Uber Technologies Correlations

U1BE34 Stock

BRL 108.26 0.26 0.24%

The current 90-days correlation between Uber Technologies and Micron Technology is 0.3 (i.e., Weak diversification). The correlation of Uber Technologies 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.

Uber Technologies Correlation With Market

Average diversification

The correlation between Uber Technologies and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Uber Technologies and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Uber Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Uber Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Uber Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Uber Technologies to buy it.

Moving together with Uber Stock

0.67	TSMC34	Taiwan Semiconductor	Pair Corr
0.63	JDCO34	JD Inc	Pair Corr

Moving against Uber Stock

0.32

TMCO34

Toyota Motor

Pair Corr

Related Correlations Analysis

	LVTC3	BROF11	COWC34	BOTZ39	P1YC34	MUTC34	A1IV34	GPIV33
LVTC3		-0.5	-0.82	-0.82	-0.8	-0.54	-0.14	0.42	LVTC3
BROF11	-0.5		0.59	0.54	0.58	0.15	0.4	-0.04	BROF11
COWC34	-0.82	0.59		0.77	0.85	0.37	0.32	-0.36	COWC34
BOTZ39	-0.82	0.54	0.77		0.79	0.77	0.02	-0.44	BOTZ39
P1YC34	-0.8	0.58	0.85	0.79		0.43	0.21	-0.23	P1YC34
MUTC34	-0.54	0.15	0.37	0.77	0.43		-0.35	-0.44	MUTC34
A1IV34	-0.14	0.4	0.32	0.02	0.21	-0.35		0.13	A1IV34
GPIV33	0.42	-0.04	-0.36	-0.44	-0.23	-0.44	0.13		GPIV33
	LVTC3	BROF11	COWC34	BOTZ39	P1YC34	MUTC34	A1IV34	GPIV33

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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

P1YC34	+ 0.85	COWC34
P1YC34	+ 0.79	BOTZ39
BOTZ39	+ 0.77	COWC34
MUTC34	+ 0.77	BOTZ39
COWC34	+ 0.59	BROF11
P1YC34	+ 0.58	BROF11

High negative correlations

BOTZ39	- 0.82	LVTC3
COWC34	- 0.82	LVTC3
P1YC34	- 0.8	LVTC3
MUTC34	- 0.54	LVTC3
BROF11	- 0.5	LVTC3
GPIV33	- 0.44	MUTC34

Risk-Adjusted Indicators

There is a big difference between Uber Stock performing well and Uber Technologies 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 Uber Technologies' 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
LVTC3	2.02	(0.32)	0.00	2.56	0.00	0.00	3.61	(4.00)	12.92
BROF11	0.78	0.02	(0.09)	0.55	0.93	(0.89)	2.13	(1.72)	5.96
COWC34	1.32	0.20	0.08	0.87	1.27	(1.47)	2.71	(1.84)	7.92
BOTZ39	1.12	0.19	0.03	(0.73)	1.33	(1.45)	2.51	(2.03)	6.80
P1YC34	1.80	0.50	0.25	0.32	0.76	(2.55)	5.62	(2.64)	36.37
MUTC34	2.50	0.06	0.01	0.18	2.99	(2.67)	4.49	(5.09)	21.03
A1IV34	1.04	0.09	(0.02)	(1.02)	1.19	(1.90)	2.37	(2.52)	9.68
GPIV33	2.29	(0.04)	(0.02)	0.03	3.56	(2.63)	4.35	(4.58)	37.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Uber Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Uber Technologies Corporate Management

Elected by the shareholders, the Uber Technologies' board of directors comprises two types of representatives: Uber Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Uber. The board's role is to monitor Uber Technologies' management team and ensure that shareholders' interests are well served. Uber Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Uber Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

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