Universal Health Correlations

U1HS34 Stock

BRL 293.93 0.00 0.00%

The current 90-days correlation between Universal Health Ser and Synchrony Financial is -0.01 (i.e., Good diversification). The correlation of Universal Health 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.

Universal Health Correlation With Market

Good diversification

The correlation between Universal Health Services, and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Health Services, and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Universal Health 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 Health 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 Health - 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 Health Services, to buy it.

Moving against Universal Stock

0.44	HOME34	Home Depot	Pair Corr
0.39	WALM34	Walmart	Pair Corr
0.39	AMZO34	Amazon Inc	Pair Corr
0.32	TMCO34	Toyota Motor	Pair Corr

Related Correlations Analysis

	S1YF34	L1YG34	B1RF34	A1MP34	I1BN34	H1IG34	LBRD34	C1FG34
S1YF34		-0.37	0.53	0.93	0.89	0.77	0.5	0.92	S1YF34
L1YG34	-0.37		0.04	-0.48	-0.35	-0.09	-0.62	-0.51	L1YG34
B1RF34	0.53	0.04		0.35	0.63	0.69	-0.05	0.31	B1RF34
A1MP34	0.93	-0.48	0.35		0.79	0.6	0.71	0.96	A1MP34
I1BN34	0.89	-0.35	0.63	0.79		0.86	0.44	0.8	I1BN34
H1IG34	0.77	-0.09	0.69	0.6	0.86		0.13	0.62	H1IG34
LBRD34	0.5	-0.62	-0.05	0.71	0.44	0.13		0.67	LBRD34
C1FG34	0.92	-0.51	0.31	0.96	0.8	0.62	0.67		C1FG34
	S1YF34	L1YG34	B1RF34	A1MP34	I1BN34	H1IG34	LBRD34	C1FG34

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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

C1FG34	+ 0.96	A1MP34
A1MP34	+ 0.93	S1YF34
C1FG34	+ 0.92	S1YF34
I1BN34	+ 0.89	S1YF34
H1IG34	+ 0.86	I1BN34
C1FG34	+ 0.8	I1BN34

High negative correlations

LBRD34	- 0.62	L1YG34
C1FG34	- 0.51	L1YG34
A1MP34	- 0.48	L1YG34
L1YG34	- 0.37	S1YF34
I1BN34	- 0.35	L1YG34
H1IG34	- 0.09	L1YG34

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Health 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 Health'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
S1YF34	1.50	0.60	0.27	(1.17)	0.64	(3.14)	5.26	(2.42)	20.79
L1YG34	1.46	(0.03)	0.00	0.19	0.00	0.00	2.71	(2.19)	11.51
B1RF34	0.01	0.00	0.00	0.23	0.00	0.00	0.00	0.00	0.34
A1MP34	1.06	0.39	0.28	(1.19)	0.90	(1.27)	2.48	(1.56)	12.61
I1BN34	0.90	0.14	0.06	0.80	1.05	(1.78)	3.22	(1.74)	9.85
H1IG34	0.01	0.00	0.00	0.73	0.00	0.00	0.00	0.00	0.40
LBRD34	1.67	0.25	0.08	(0.89)	2.40	(1.70)	3.24	(3.71)	21.71
C1FG34	1.49	0.33	0.15	1.06	1.64	(1.76)	3.41	(3.18)	19.39

Be your own money manager

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