ManpowerGroup Correlations

MAN Stock

USD 40.32 2.55 5.95%

The current 90-days correlation between ManpowerGroup and Heidrick Struggles International is 0.6 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ManpowerGroup moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ManpowerGroup moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ManpowerGroup Correlation With Market

Poor diversification

The correlation between ManpowerGroup and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ManpowerGroup and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ManpowerGroup Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ManpowerGroup. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

To learn how to invest in ManpowerGroup Stock, please use our How to Invest in ManpowerGroup guide.

Moving together with ManpowerGroup Stock

0.68	G	Genpact Limited	Pair Corr
0.76	FC	Franklin Covey	Pair Corr
0.69	KC	Kingsoft Cloud Holdings	Pair Corr
0.78	MG	Mistras Group	Pair Corr
0.78	VCIG	VCI Global Limited	Pair Corr
0.68	VIRC	Virco Manufacturing	Pair Corr
0.78	EXPO	Exponent	Pair Corr
0.79	AWX	Avalon Holdings	Pair Corr

Moving against ManpowerGroup Stock

0.67	BV	BrightView Holdings	Pair Corr
0.59	FA	First Advantage Corp	Pair Corr
0.54	VRSK	Verisk Analytics	Pair Corr
0.49	WM	Waste Management Sell-off Trend	Pair Corr
0.48	ESGL	ESGL Holdings Limited	Pair Corr
0.41	WLDN	Willdan Group	Pair Corr
0.32	VSEC	VSE Corporation	Pair Corr
0.79	CIX	CompX International	Pair Corr
0.79	CLH	Clean Harbors	Pair Corr
0.79	CXW	CoreCivic	Pair Corr
0.59	DNB	Dun Bradstreet Holdings Sell-off Trend	Pair Corr
0.56	GFL	Gfl Environmental	Pair Corr
0.54	EFX	Equifax	Pair Corr
0.5	ABM	ABM Industries	Pair Corr
0.46	BTM	Bitcoin Depot Trending	Pair Corr
0.44	AXR	AMREP	Pair Corr
0.44	FORR	Forrester Research	Pair Corr
0.44	FTEK	Fuel Tech	Pair Corr
0.43	ADP	Automatic Data Processing	Pair Corr

Related Correlations Analysis

	KFRC	HSII	KFY	HSON	KELYA	PAYX	HQI
KFRC		0.15	0.05	0.52	0.7	-0.39	0.87	KFRC
HSII	0.15		0.96	-0.09	0.61	0.7	0.14	HSII
KFY	0.05	0.96		-0.11	0.55	0.8	0.03	KFY
HSON	0.52	-0.09	-0.11		0.6	-0.45	0.65	HSON
KELYA	0.7	0.61	0.55	0.6		0.04	0.75	KELYA
PAYX	-0.39	0.7	0.8	-0.45	0.04		-0.44	PAYX
HQI	0.87	0.14	0.03	0.65	0.75	-0.44		HQI
	KFRC	HSII	KFY	HSON	KELYA	PAYX	HQI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

KFY	+ 0.96	HSII
HQI	+ 0.87	KFRC
PAYX	+ 0.8	KFY
HQI	+ 0.75	KELYA
KELYA	+ 0.7	KFRC
PAYX	+ 0.7	HSII

High negative correlations

PAYX	- 0.45	HSON
HQI	- 0.44	PAYX
PAYX	- 0.39	KFRC
HSON	- 0.11	KFY
HSON	- 0.09	HSII

Risk-Adjusted Indicators

There is a big difference between ManpowerGroup Stock performing well and ManpowerGroup Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ManpowerGroup's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KFRC	1.78	(0.32)	0.00	(0.38)	0.00	0.00	4.42	(3.75)	20.04
HSII	1.30	(0.01)	(0.01)	0.02	2.00	(1.25)	3.76	(2.17)	12.15
KFY	1.27	(0.01)	(0.01)	0.02	1.82	(1.30)	2.51	(3.10)	9.66
HSON	2.19	(0.25)	0.00	(0.81)	0.00	0.00	5.34	(5.43)	21.03
KELYA	1.70	(0.18)	0.00	(0.19)	0.00	0.00	3.00	(3.61)	14.04
PAYX	1.14	0.07	0.04	0.12	1.56	(1.28)	2.15	(1.97)	10.86
HQI	2.23	(0.42)	0.00	(0.49)	0.00	0.00	4.18	(4.31)	13.53

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