CBZ vs TNET: Correlation
CBIZ, Inc. (CBZ) and TriNet Group, Inc. (TNET) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBZ and TNET?
Over the past 3 years, CBZ and TNET moved with a correlation of 0.58, which is moderate. The link has tightened recently: the 1-year correlation (0.68) runs above the 3-year figure (0.58). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1030.0 %².
Among the 20 assets we track against CBZ, TNET ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TNET outperformed by 16.9 percentage points (-16.9% for CBZ against +0.0% for TNET).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CBZ vs TNET: side by side
| CBZ (CBIZ, Inc.) | TNET (TriNet Group, Inc.) | |
|---|---|---|
| 1-year return | -16.9% | +0.0% |
| 5-year return | +61.7% | -20.5% |
| Volatility (ann.) | 44.6% | 40.1% |
| Beta vs S&P 500 | 1.02 | 0.77 |
| Max drawdown (3Y) | -71.6% | -74.0% |
| Market cap | $3.0B | $3.2B |
| P/E (trailing) | 26.3 | 18.6 |
| Dividend yield | 0.00% | 1.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBZ | TNET |
|---|---|---|
| 2022 | +19.8% | -28.8% |
| 2023 | +33.6% | +75.4% |
| 2024 | +30.7% | -23.1% |
| 2025 | -38.3% | -33.9% |
| 2026 | +8.4% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBZ and TNET good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CBZ and TNET?
As of 2026-08-27, the correlation of weekly returns between CBZ and TNET is 0.58 over 3 years, 0.68 over 1 year and 0.54 over 5 years.
Is TNET a good diversifier for CBZ?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbz-vs-tnet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbz-vs-tnet/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBZ correlations · TNET correlations
