Uber Technologies Correlations

0A1U Stock

USD 75.15 0.60 0.80%

The current 90-days correlation between Uber Technologies and Indutrade AB is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Uber Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Uber Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Uber Technologies Correlation With Market

Significant diversification

The correlation between Uber Technologies and DJI is 0.03 (i.e., Significant 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

0.73	CLC	Calculus VCT plc	Pair Corr
0.65	0NRN	Grupo Catalana Occidente	Pair Corr
0.64	0JPO	KLA Corp	Pair Corr
0.8	BBGI	BBGI SICAV SA Earnings Call This Week	Pair Corr
0.78	0KII	SSAB AB ser	Pair Corr

Moving against Uber Stock

0.52	OOA	Octopus Aim Vct	Pair Corr
0.49	IGV	Income Growth	Pair Corr

Related Correlations Analysis

	0HBH	0HEJ	AUTO	PTEC	0M1K	0HMG	0H30
0HBH		-0.69	0.23	0.54	-0.33	-0.35	0.58	0HBH
0HEJ	-0.69		0.09	-0.48	0.05	0.46	-0.55	0HEJ
AUTO	0.23	0.09		-0.13	-0.62	0.59	-0.09	AUTO
PTEC	0.54	-0.48	-0.13		0.27	-0.65	0.73	PTEC
0M1K	-0.33	0.05	-0.62	0.27		-0.34	-0.02	0M1K
0HMG	-0.35	0.46	0.59	-0.65	-0.34		-0.73	0HMG
0H30	0.58	-0.55	-0.09	0.73	-0.02	-0.73		0H30
	0HBH	0HEJ	AUTO	PTEC	0M1K	0HMG	0H30

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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

0H30	+ 0.73	PTEC
0HMG	+ 0.59	AUTO
0H30	+ 0.58	0HBH
PTEC	+ 0.54	0HBH
0HMG	+ 0.46	0HEJ
0M1K	+ 0.27	PTEC

High negative correlations

0H30	- 0.73	0HMG
0HEJ	- 0.69	0HBH
0HMG	- 0.65	PTEC
0M1K	- 0.62	AUTO
0H30	- 0.55	0HEJ
PTEC	- 0.48	0HEJ

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
0HBH	1.20	(0.04)	0.00	(0.16)	0.00	0.00	2.20	(2.38)	7.93
0HEJ	1.12	(0.03)	0.00	1.65	0.00	0.00	2.58	(2.62)	6.22
AUTO	0.84	(0.13)	0.00	(3.19)	0.00	0.00	1.53	(1.68)	4.60
PTEC	0.88	0.04	0.08	0.07	1.00	(1.03)	1.96	(1.78)	5.70
0M1K	0.03	0.01	0.00	0.15	0.00	0.00	0.00	0.00	0.97
0HMG	2.62	(0.51)	0.00	(17.68)	0.00	0.00	5.13	(4.65)	26.11
0H30	1.17	0.08	0.06	0.08	1.55	(1.15)	2.73	(2.68)	7.41

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.

Jill Hazelbaker	VP Affairs	Profile
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Alaxandar Wang	Head Relations	Profile
Scott Schools	Chief Officer	Profile
Nelson Chai	Chief Officer	Profile
Glen Ceremony	Chief Controller	Profile

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