Unit Correlations

UNTC Stock

USD 33.74 0.23 0.68%

The correlation of Unit 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.

Unit Correlation With Market

Significant diversification

The correlation between Unit Corp. and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unit Corp. and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Unit Pink Sheet

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0.53	LUNR	Intuitive Machines	Pair Corr
0.43	BFLY	Butterfly Network	Pair Corr
0.58	SDIG	Stronghold Digital Mining	Pair Corr
0.56	INMD	InMode	Pair Corr
0.56	CRS	Carpenter Technology	Pair Corr
0.54	OPRA	Opera	Pair Corr
0.53	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.49	IONQ	IONQ Inc Upward Rally	Pair Corr
0.46	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.46	MSTR	MicroStrategy Incorporated Buyout Trend	Pair Corr
0.44	PLTR	Palantir Technologies Buyout Trend	Pair Corr
0.43	FUND	Sprott Focus Trust	Pair Corr
0.42	ET	Energy Transfer LP	Pair Corr
0.4	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	BPAQF	GLPEY	EC	EQNR	TTE	REPYY	GLPEF	OGFGY	EIPAF
BPAQF		0.85	0.75	0.59	0.8	-0.44	0.68	-0.59	-0.06	BPAQF
GLPEY	0.85		0.84	0.54	0.76	-0.35	0.72	-0.67	-0.12	GLPEY
EC	0.75	0.84		0.67	0.66	0.0	0.48	-0.65	-0.12	EC
EQNR	0.59	0.54	0.67		0.45	-0.03	0.46	-0.28	0.09	EQNR
TTE	0.8	0.76	0.66	0.45		-0.52	0.75	-0.53	0.24	TTE
REPYY	-0.44	-0.35	0.0	-0.03	-0.52		-0.57	0.09	-0.11	REPYY
GLPEF	0.68	0.72	0.48	0.46	0.75	-0.57		-0.43	0.23	GLPEF
OGFGY	-0.59	-0.67	-0.65	-0.28	-0.53	0.09	-0.43		0.13	OGFGY
EIPAF	-0.06	-0.12	-0.12	0.09	0.24	-0.11	0.23	0.13		EIPAF
	BPAQF	GLPEY	EC	EQNR	TTE	REPYY	GLPEF	OGFGY	EIPAF

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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

GLPEY	+ 0.85	BPAQF
EC	+ 0.84	GLPEY
TTE	+ 0.8	BPAQF
TTE	+ 0.76	GLPEY
EC	+ 0.75	BPAQF
GLPEF	+ 0.75	TTE

High negative correlations

OGFGY	- 0.67	GLPEY
OGFGY	- 0.65	EC
OGFGY	- 0.59	BPAQF
GLPEF	- 0.57	REPYY
OGFGY	- 0.53	TTE
REPYY	- 0.52	TTE

Risk-Adjusted Indicators

There is a big difference between Unit Pink Sheet performing well and Unit 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 Unit'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
BPAQF	1.60	(0.06)	0.00	(0.66)	0.00	0.00	3.40	(3.14)	10.81
GLPEY	1.14	(0.06)	0.00	0.24	0.00	0.00	1.86	(2.68)	7.62
EC	1.34	(0.16)	0.00	(13.77)	0.00	0.00	2.97	(3.79)	7.79
EQNR	1.59	(0.02)	0.00	0.50	0.00	0.00	3.30	(3.69)	8.46
TTE	1.00	(0.25)	0.00	2.55	0.00	0.00	1.57	(2.57)	7.40
REPYY	1.31	0.18	0.06	1.71	1.45	(1.41)	2.19	(2.16)	6.00
GLPEF	1.53	(0.08)	0.00	0.25	0.00	0.00	4.16	(4.67)	12.71
OGFGY	0.46	(0.01)	0.00	0.18	0.00	0.00	2.33	0.00	13.95
EIPAF	1.29	(0.05)	0.00	0.23	0.00	0.00	3.86	(4.19)	18.87

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Our tools can tell you how much better you can do entering a position in Unit 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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Unit Corporate Management

Andrew Harding	Corp VP	Profile
James White	VP HR	Profile
John Cromling	Ex Company	Profile
Michael Earl	VP Relations	Profile
Philip Smith	Pres Chairman	Profile
Christopher Menefee	Pres Company	Profile
April Adler	Assistant Sec	Profile

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