Hirequest Correlations

HQI Stock

USD 15.21 0.28 1.81%

The current 90-days correlation between Hirequest and TrueBlue is 0.39 (i.e., Weak diversification). The correlation of Hirequest is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Hirequest Correlation With Market

Poor diversification

The correlation between Hirequest and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hirequest and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hirequest. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

For more detail on how to invest in Hirequest Stock please use our How to Invest in Hirequest guide.

Moving together with Hirequest Stock

0.63	G	Genpact Limited	Pair Corr
0.64	VIRC	Virco Manufacturing Earnings Call This Week	Pair Corr
0.61	EEFT	Euronet Worldwide	Pair Corr
0.66	CBZ	CBIZ Inc	Pair Corr
0.67	DLX	Deluxe	Pair Corr

Moving against Hirequest Stock

0.43	FC	Franklin Covey	Pair Corr
0.36	BCO	Brinks Company	Pair Corr
0.57	MMS	Maximus	Pair Corr
0.44	HDSN	Hudson Technologies	Pair Corr

Related Correlations Analysis

	KELYB	KFRC	HSII	HSON	KELYA	MAN	KFY	RHI	TBI	MHH
KELYB		0.08	-0.89	0.2	0.96	0.72	-0.69	-0.79	0.48	-0.93	KELYB
KFRC	0.08		0.04	-0.01	0.14	0.49	0.2	-0.2	0.5	-0.02	KFRC
HSII	-0.89	0.04		-0.27	-0.84	-0.66	0.86	0.92	-0.26	0.85	HSII
HSON	0.2	-0.01	-0.27		0.22	0.16	-0.24	-0.23	0.07	-0.19	HSON
KELYA	0.96	0.14	-0.84	0.22		0.71	-0.63	-0.76	0.61	-0.9	KELYA
MAN	0.72	0.49	-0.66	0.16	0.71		-0.26	-0.64	0.54	-0.57	MAN
KFY	-0.69	0.2	0.86	-0.24	-0.63	-0.26		0.85	-0.04	0.76	KFY
RHI	-0.79	-0.2	0.92	-0.23	-0.76	-0.64	0.85		-0.31	0.77	RHI
TBI	0.48	0.5	-0.26	0.07	0.61	0.54	-0.04	-0.31		-0.42	TBI
MHH	-0.93	-0.02	0.85	-0.19	-0.9	-0.57	0.76	0.77	-0.42		MHH
	KELYB	KFRC	HSII	HSON	KELYA	MAN	KFY	RHI	TBI	MHH

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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

KELYA	+ 0.96	KELYB
RHI	+ 0.92	HSII
KFY	+ 0.86	HSII
MHH	+ 0.85	HSII
RHI	+ 0.85	KFY
MHH	+ 0.77	RHI

High negative correlations

MHH	- 0.93	KELYB
MHH	- 0.9	KELYA
HSII	- 0.89	KELYB
KELYA	- 0.84	HSII
RHI	- 0.79	KELYB
RHI	- 0.76	KELYA

Risk-Adjusted Indicators

There is a big difference between Hirequest Stock performing well and Hirequest 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 Hirequest'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
KELYB	1.43	(0.48)	0.00	(0.91)	0.00	0.00	2.55	(6.15)	17.93
KFRC	1.30	(0.26)	0.00	(0.10)	0.00	0.00	2.48	(3.03)	9.02
HSII	1.52	0.02	0.11	0.14	1.30	(1.75)	3.31	(2.62)	15.55
HSON	1.80	(0.28)	0.00	2.83	0.00	0.00	4.12	(4.27)	16.19
KELYA	1.76	(0.70)	0.00	(0.29)	0.00	0.00	2.89	(4.04)	27.28
MAN	1.43	(0.35)	0.00	(0.13)	0.00	0.00	2.76	(2.84)	12.95
KFY	1.29	(0.07)	0.01	0.09	1.38	(1.37)	3.56	(2.17)	9.56
RHI	1.20	0.06	0.11	0.17	1.00	(1.46)	2.24	(2.07)	13.22
TBI	2.17	(0.34)	0.00	(0.04)	0.00	0.00	4.21	(4.52)	16.74
MHH	3.57	0.58	0.18	0.48	3.26	(4.21)	9.38	(5.63)	27.00

Hirequest Corporate Management

Joseph Gianzanti	Chief Officer	Profile
Dave Gerstner	Vice Operations	Profile
Cory CPA	Chief Treasurer	Profile
Steven Crane	Chief Officer	Profile
Cory Smith	Chief Treasurer	Profile

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