Unipol Gruppo Correlations

UIPN Stock

EUR 11.56 0.09 0.77%

The current 90-days correlation between Unipol Gruppo Finanziario and Principal Financial Group is 0.09 (i.e., Significant diversification). The correlation of Unipol Gruppo 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.

Unipol Gruppo Correlation With Market

Average diversification

The correlation between Unipol Gruppo Finanziario and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unipol Gruppo Finanziario and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Unipol Gruppo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Unipol Gruppo 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 Unipol Gruppo - 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 Unipol Gruppo Finanziario to buy it.

Moving together with Unipol Stock

0.64	AXJ	Equitable Holdings	Pair Corr
0.76	48R	ENSTAR GROUP LTD	Pair Corr
0.75	WX7	Corporate Office Pro	Pair Corr
0.61	NOA3	Nokia	Pair Corr
0.64	AQHE	Event Hospitality	Pair Corr
0.62	PCG6	PG E P6	Pair Corr
0.66	M4I	Mastercard	Pair Corr
0.72	WX1	Acadia Realty Trust	Pair Corr

Moving against Unipol Stock

0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.56	BYRA	PT Bank Rakyat	Pair Corr
0.54	BYRA	BANK RAKYAT IND	Pair Corr
0.47	BYRA	PT Bank Rakyat	Pair Corr
0.43	PQ9	BANK MANDIRI	Pair Corr
0.4	PQ9	BANK MANDIRI	Pair Corr
0.33	PQ9	PT Bank Mandiri	Pair Corr
0.41	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	ALV	ALVE	AXAA	ASG0	PG4	AXJ	2NN	48R
ALV		0.77	0.2	0.59	0.01	-0.08	-0.23	-0.02	ALV
ALVE	0.77		0.21	0.52	-0.06	-0.02	-0.31	0.04	ALVE
AXAA	0.2	0.21		-0.38	-0.1	-0.69	0.57	-0.55	AXAA
ASG0	0.59	0.52	-0.38		0.17	0.57	-0.57	0.4	ASG0
PG4	0.01	-0.06	-0.1	0.17		0.35	0.33	0.29	PG4
AXJ	-0.08	-0.02	-0.69	0.57	0.35		-0.38	0.85	AXJ
2NN	-0.23	-0.31	0.57	-0.57	0.33	-0.38		-0.26	2NN
48R	-0.02	0.04	-0.55	0.4	0.29	0.85	-0.26		48R
	ALV	ALVE	AXAA	ASG0	PG4	AXJ	2NN	48R

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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

48R	+ 0.85	AXJ
ALVE	+ 0.77	ALV
ASG0	+ 0.59	ALV
2NN	+ 0.57	AXAA
AXJ	+ 0.57	ASG0
ASG0	+ 0.52	ALVE

High negative correlations

AXJ	- 0.69	AXAA
2NN	- 0.57	ASG0
48R	- 0.55	AXAA
2NN	- 0.38	AXJ
ASG0	- 0.38	AXAA
2NN	- 0.31	ALVE

Risk-Adjusted Indicators

There is a big difference between Unipol Stock performing well and Unipol Gruppo 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 Unipol Gruppo'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
ALV	0.67	0.01	(0.02)	0.15	0.76	(0.73)	1.27	(1.08)	3.57
ALVE	1.16	0.03	0.01	0.12	1.37	(1.71)	3.38	(2.63)	9.66
AXAA	1.27	(0.08)	0.00	(0.23)	0.00	0.00	2.50	(2.30)	9.64
ASG0	1.12	0.07	0.03	0.36	1.25	(1.41)	2.34	(2.21)	9.21
PG4	1.23	(0.09)	0.00	(0.05)	0.00	0.00	1.98	(2.57)	11.62
AXJ	1.21	0.23	0.14	(1.72)	1.16	(1.61)	2.77	(1.44)	15.91
2NN	0.68	(0.12)	0.00	0.78	0.00	0.00	1.21	(1.87)	4.15
48R	0.49	0.08	0.06	0.28	0.49	(0.79)	1.34	(0.68)	3.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Unipol Gruppo 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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