ManpowerGroup Correlations

MAN Stock

USD 30.66 0.52 1.73%

The current 90-days correlation between ManpowerGroup and Insperity is 0.62 (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

Significant diversification

The correlation between ManpowerGroup and DJI is 0.07 (i.e., Significant 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

0.75	FA	First Advantage Corp Earnings Call This Week	Pair Corr
0.77	HIT	Hitech Group Australia	Pair Corr
0.8	ADP	Automatic Data Processing	Pair Corr
0.65	HQI	Hirequest Earnings Call This Week	Pair Corr
0.78	KFY	Korn Ferry	Pair Corr
0.63	MHH	Mastech Holdings	Pair Corr
0.85	NSP	Insperity	Pair Corr
0.81	RHI	Robert Half International	Pair Corr
0.69	KELYB	Kelly Services B Earnings Call This Week	Pair Corr
0.82	KELYA	Kelly Services A Earnings Call This Week	Pair Corr
0.7	QUESS	Quess Corp Limited	Pair Corr
0.71	KFRC	Kforce Inc Earnings Call Tomorrow	Pair Corr
0.73	LGCL	Lucas GC Limited	Pair Corr
0.61	300662	Beijing Career Inter	Pair Corr
0.67	PAYX	Paychex Sell-off Trend	Pair Corr

Moving against ManpowerGroup Stock

0.72	PPE	Peoplein	Pair Corr
0.64	HSII	Heidrick Struggles	Pair Corr
0.48	DLHC	DLH Holdings Corp	Pair Corr
0.38	CGR	CGN Resources	Pair Corr
0.69	CPI	Capita PLC	Pair Corr
0.59	STI	Solidion Technology Upward Rally	Pair Corr
0.51	NBB	Norman Broadbent Plc	Pair Corr

Related Correlations Analysis

	NSP	HTZ	JBLU	CECO	CDLR	ARLO	KMT	MVST	PBI	ATRO
NSP		0.25	0.79	-0.44	0.71	-0.39	-0.41	-0.81	0.5	-0.76	NSP
HTZ	0.25		0.3	0.27	0.52	-0.27	-0.36	-0.23	0.22	-0.02	HTZ
JBLU	0.79	0.3		-0.15	0.53	-0.19	-0.31	-0.51	0.51	-0.4	JBLU
CECO	-0.44	0.27	-0.15		-0.16	0.27	0.17	0.69	-0.07	0.74	CECO
CDLR	0.71	0.52	0.53	-0.16		-0.61	-0.44	-0.68	0.29	-0.5	CDLR
ARLO	-0.39	-0.27	-0.19	0.27	-0.61		0.31	0.47	0.01	0.53	ARLO
KMT	-0.41	-0.36	-0.31	0.17	-0.44	0.31		0.45	-0.01	0.42	KMT
MVST	-0.81	-0.23	-0.51	0.69	-0.68	0.47	0.45		-0.36	0.86	MVST
PBI	0.5	0.22	0.51	-0.07	0.29	0.01	-0.01	-0.36		-0.25	PBI
ATRO	-0.76	-0.02	-0.4	0.74	-0.5	0.53	0.42	0.86	-0.25		ATRO
	NSP	HTZ	JBLU	CECO	CDLR	ARLO	KMT	MVST	PBI	ATRO

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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

ATRO	+ 0.86	MVST
JBLU	+ 0.79	NSP
ATRO	+ 0.74	CECO
CDLR	+ 0.71	NSP
MVST	+ 0.69	CECO
CDLR	+ 0.53	JBLU

High negative correlations

MVST	- 0.81	NSP
ATRO	- 0.76	NSP
MVST	- 0.68	CDLR
ARLO	- 0.61	CDLR
MVST	- 0.51	JBLU
ATRO	- 0.5	CDLR

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
NSP	1.81	(0.10)	0.00	1.72	0.00	0.00	4.07	(3.32)	12.97
HTZ	2.89	(0.10)	0.00	(3.32)	0.00	0.00	7.54	(6.30)	19.56
JBLU	2.15	0.03	(0.03)	0.02	2.98	(2.50)	5.91	(4.35)	24.04
CECO	2.42	0.11	0.02	0.30	2.89	(2.67)	5.04	(4.01)	18.87
CDLR	1.62	(0.13)	0.00	0.83	0.00	0.00	3.56	(3.14)	10.72
ARLO	1.78	0.40	0.08	(0.30)	2.14	(1.91)	3.57	(3.77)	10.69
KMT	1.58	(0.16)	0.00	(0.71)	0.00	0.00	3.38	(2.85)	19.68
MVST	4.41	0.89	0.18	1.07	4.17	(4.92)	12.50	(6.30)	29.92
PBI	1.75	(0.33)	0.00	(0.13)	0.00	0.00	3.50	(4.92)	15.26
ATRO	2.37	0.56	0.12	(2.82)	3.15	(2.64)	4.89	(3.86)	22.49

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