TBI vs TEAM: Correlation
Measured on weekly returns over the past three years, TrueBlue, Inc. (TBI) and Atlassian Corporation (TEAM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TBI and TEAM?
Over the past 3 years, TBI and TEAM moved with a correlation of 0.49, which is moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.49). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 1978.9 %².
Among the 12 assets we track against TBI, TEAM ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TBI outperformed by 67.6 percentage points (+75.6% for TBI against +8.0% for TEAM).
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.
TBI vs TEAM: side by side
| TBI (TrueBlue, Inc.) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | +75.6% | +8.0% |
| 5-year return | -60.9% | -49.3% |
| Volatility (ann.) | 65.3% | 61.5% |
| Beta vs S&P 500 | 1.45 | 1.66 |
| Max drawdown (3Y) | -79.2% | -82.3% |
| Market cap | $0.3B | $47.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TBI | TEAM |
|---|---|---|
| 2022 | -29.2% | -66.3% |
| 2023 | -21.7% | +84.8% |
| 2024 | -45.2% | +2.3% |
| 2025 | -45.8% | -33.4% |
| 2026 | +134.3% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TBI and TEAM good diversifiers for each other?
Reasonably. At 0.49, TBI and TEAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TBI and TEAM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.60 over the last year and 0.40 over 5 years.
Is TEAM a good diversifier for TBI?
Reasonably. At 0.49, TBI and TEAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: TBI correlations · TEAM correlations
