ShiftPixy Correlations

Summary

PIXYDelisted Stock

USD 6.53 1.06 13.97%

The correlation of ShiftPixy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ShiftPixy Correlation With Market

Very good diversification

The correlation between ShiftPixy and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ShiftPixy and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with ShiftPixy Stock

0.76	KO	Coca Cola Aggressive Push	Pair Corr
0.88	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against ShiftPixy Stock

0.91	PYPL	PayPal Holdings	Pair Corr
0.91	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	DIS	Walt Disney	Pair Corr
0.86	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.85	WMT	Walmart	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.81	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.79	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.63	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.36	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	JOB	HIRRF	CWLPF	TREP	FTRS	RCRT	RLBY	TBI	RANJY	KELYA
JOB		0.0	0.38	0.02	-0.02	-0.06	0.27	0.08	0.51	0.25	JOB
HIRRF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HIRRF
CWLPF	0.38	0.0		-0.31	0.08	-0.24	-0.01	0.01	0.51	0.46	CWLPF
TREP	0.02	0.0	-0.31		-0.02	-0.18	0.2	-0.08	0.13	0.13	TREP
FTRS	-0.02	0.0	0.08	-0.02		-0.09	0.39	0.1	-0.07	0.08	FTRS
RCRT	-0.06	0.0	-0.24	-0.18	-0.09		-0.07	0.14	-0.16	-0.48	RCRT
RLBY	0.27	0.0	-0.01	0.2	0.39	-0.07		0.17	0.18	0.17	RLBY
TBI	0.08	0.0	0.01	-0.08	0.1	0.14	0.17		0.18	0.09	TBI
RANJY	0.51	0.0	0.51	0.13	-0.07	-0.16	0.18	0.18		0.76	RANJY
KELYA	0.25	0.0	0.46	0.13	0.08	-0.48	0.17	0.09	0.76		KELYA
	JOB	HIRRF	CWLPF	TREP	FTRS	RCRT	RLBY	TBI	RANJY	KELYA

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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	+ 0.76	RANJY
RANJY	+ 0.51	JOB
RANJY	+ 0.51	CWLPF
KELYA	+ 0.46	CWLPF
RLBY	+ 0.39	FTRS
CWLPF	+ 0.38	JOB

High negative correlations

KELYA	- 0.48	RCRT
TREP	- 0.31	CWLPF
RCRT	- 0.24	CWLPF
RCRT	- 0.18	TREP
RANJY	- 0.16	RCRT
RCRT	- 0.09	FTRS

Risk-Adjusted Indicators

There is a big difference between ShiftPixy Stock performing well and ShiftPixy 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 ShiftPixy'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
JOB	1.93	(0.09)	(0.02)	0.04	2.43	(4.95)	4.17	(4.00)	19.05
HIRRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWLPF	1.62	(0.02)	(0.01)	0.08	2.32	(6.75)	6.76	(5.06)	17.79
TREP	8.53	1.00	0.05	(0.98)	9.92	(15.72)	28.57	(19.35)	85.80
FTRS	4.96	0.40	0.05	0.25	5.75	(17.14)	20.00	(11.18)	49.33
RCRT	4.55	0.61	0.10	2.63	4.55	(5.64)	11.56	(8.57)	29.55
RLBY	5.91	0.65	0.04	1.06	7.27	(14.67)	23.76	(17.53)	60.75
TBI	2.35	0.09	0.07	0.16	2.51	(2.53)	4.73	(4.31)	16.74
RANJY	1.43	0.05	(0.06)	0.01	1.92	(1.52)	2.48	(2.40)	13.44
KELYA	1.78	(0.72)	0.00	(0.32)	0.00	0.00	2.89	(4.04)	27.28

ShiftPixy Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ShiftPixy stock to make a market-neutral strategy. Peer analysis of ShiftPixy could also be used in its relative valuation, which is a method of valuing ShiftPixy by comparing valuation metrics with similar companies.

GEE Group Hire Technologies The Caldwell Partners Trucept Futuris Company RecruiterCom Group Reliability Incorporated TrueBlue Randstad Holdings NV Kelly Services A American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

ShiftPixy Corporate Management

Eduardo Dominguez	Chief Staffing	Profile
John Bissell	Chief Labs	Profile
Manuel Rivera	Treasurer CFO	Profile
Doug Moss	Chief Officer	Profile
Patrice Launay	Chief Officer	Profile
Rodney Diekema	Chief Markets	Profile

Still Interested in ShiftPixy?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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