Universal Corp Correlations

UVV Stock

52.60 0.00 0.00%

The correlation of Universal Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Universal Corp Correlation With Market

Significant diversification

The correlation between Universal Corp and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Universal Stock

0.79	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.79	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.71	RS6	RELIANCE STEEL AL	Pair Corr
0.68	WX7	Corporate Office Pro	Pair Corr
0.88	0XHR	Xenia Hotels Resorts	Pair Corr
0.87	2CDA	Controladora Vuela Compaa	Pair Corr
0.93	EN3	Enbridge	Pair Corr
0.94	WD5A	TRAVEL LEISURE DL	Pair Corr
0.88	2T9A	TRAINLINE PLC LS	Pair Corr
0.73	KOMA	KOMATSU LTD SPONS	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.82	FFH	Fifth Third Bancorp	Pair Corr
0.96	LIE	Sun Life Financial	Pair Corr
0.83	AZ5	AutoZone	Pair Corr

Moving against Universal Stock

0.74	SSU	Samsung Electronics	Pair Corr
0.72	SSU	Samsung Electronics	Pair Corr
0.66	SSUN	Samsung Electronics	Pair Corr
0.64	SSUN	Samsung Electronics	Pair Corr
0.64	TCID	Telkom Indonesia Tbk	Pair Corr
0.59	PTI	Perusahaan Perseroan	Pair Corr
0.58	TCID	Telkom Indonesia Tbk	Pair Corr
0.57	TCID	Telkom Indonesia Tbk	Pair Corr
0.86	TCID	Telkom Indonesia Tbk	Pair Corr
0.33	XYTA	CHINA HUARONG ENERHD	Pair Corr
0.57	AXI	Atos SE	Pair Corr
0.5	C4S1	CHINA STATE STRU	Pair Corr
0.4	18V	CHINA VANKE TD	Pair Corr

Related Correlations Analysis

	1P3N	TGE1	5ZM	HLG	SZL	AFW	S92	1RNA
1P3N		-1.0	0.0	0.0	0.0	0.0	0.0	0.0	1P3N
TGE1	-1.0		0.0	0.0	0.0	0.0	0.0	0.0	TGE1
5ZM	0.0	0.0		0.58	0.66	0.24	-0.81	-0.81	5ZM
HLG	0.0	0.0	0.58		0.76	0.63	-0.34	-0.68	HLG
SZL	0.0	0.0	0.66	0.76		0.51	-0.39	-0.68	SZL
AFW	0.0	0.0	0.24	0.63	0.51		-0.03	-0.34	AFW
S92	0.0	0.0	-0.81	-0.34	-0.39	-0.03		0.61	S92
1RNA	0.0	0.0	-0.81	-0.68	-0.68	-0.34	0.61		1RNA
	1P3N	TGE1	5ZM	HLG	SZL	AFW	S92	1RNA

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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

SZL	+ 0.76	HLG
SZL	+ 0.66	5ZM
AFW	+ 0.63	HLG
1RNA	+ 0.61	S92
HLG	+ 0.58	5ZM
AFW	+ 0.51	SZL

High negative correlations

TGE1	- 1.0	1P3N
1RNA	- 0.81	5ZM
S92	- 0.81	5ZM
1RNA	- 0.68	SZL
1RNA	- 0.68	HLG
S92	- 0.39	SZL

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Corp 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 Universal Corp'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
1P3N	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TGE1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
5ZM	1.57	0.43	0.20	5.40	1.75	(1.91)	3.92	(2.94)	12.64
HLG	2.04	(0.05)	0.00	(0.25)	0.00	0.00	5.26	(5.56)	13.59
SZL	2.29	0.27	0.10	0.57	2.34	(2.81)	6.38	(4.06)	25.69
AFW	1.49	(0.14)	0.00	(0.53)	0.00	0.00	3.35	(3.02)	9.80
S92	2.94	(0.25)	0.00	0.73	0.00	0.00	5.97	(5.27)	25.26
1RNA	2.83	(0.42)	0.00	(0.64)	0.00	0.00	6.16	(6.41)	14.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in Universal Corp 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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