UR ENERGY Correlations

U9T Stock

EUR 0.75 0.01 1.32%

The current 90-days correlation between UR ENERGY and PennantPark Investment is 0.15 (i.e., Average diversification). The correlation of UR ENERGY 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.

UR ENERGY Correlation With Market

Average diversification

The correlation between UR ENERGY and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UR ENERGY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with U9T Stock

0.93	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.9	MSF	Microsoft	Pair Corr
0.93	MSF	Microsoft	Pair Corr
0.67	AMZ	Amazon Inc	Pair Corr
0.88	PQ9	PT Bank Mandiri	Pair Corr
0.9	PQ9	BANK MANDIRI	Pair Corr
0.9	PQ9	BANK MANDIRI	Pair Corr
0.83	PQ9	BANK MANDIRI	Pair Corr
0.66	BYRA	BANK RAKYAT IND	Pair Corr
0.61	BYRA	PT Bank Rakyat	Pair Corr
0.8	BYRA	BANK RAKYAT IND	Pair Corr
0.62	BYRA	PT Bank Rakyat	Pair Corr
0.91	BZG2	BANK CENTRAL ASIA	Pair Corr
0.9	BZG2	BANK CENTRAL ASIA	Pair Corr
0.86	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against U9T Stock

0.88	DBPE	Xtrackers LevDAX	Pair Corr
0.77	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	JAN	14N1	U09	SNF	12P	ODP	ACX	719
JAN		0.14	0.0	0.32	0.08	0.0	0.05	-0.27	JAN
14N1	0.14		0.0	0.55	0.73	0.0	0.54	-0.72	14N1
U09	0.0	0.0		0.0	0.0	1.0	0.0	0.0	U09
SNF	0.32	0.55	0.0		0.1	0.0	-0.02	-0.45	SNF
12P	0.08	0.73	0.0	0.1		0.0	0.4	-0.32	12P
ODP	0.0	0.0	1.0	0.0	0.0		0.0	0.0	ODP
ACX	0.05	0.54	0.0	-0.02	0.4	0.0		-0.61	ACX
719	-0.27	-0.72	0.0	-0.45	-0.32	0.0	-0.61		719
	JAN	14N1	U09	SNF	12P	ODP	ACX	719

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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

ODP	+ 1.0	U09
12P	+ 0.73	14N1
SNF	+ 0.55	14N1
ACX	+ 0.54	14N1
ACX	+ 0.4	12P
SNF	+ 0.32	JAN

High negative correlations

719	- 0.72	14N1
719	- 0.61	ACX
719	- 0.45	SNF
719	- 0.32	12P
719	- 0.27	JAN
ACX	- 0.02	SNF

Risk-Adjusted Indicators

There is a big difference between U9T Stock performing well and UR ENERGY 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 UR ENERGY'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
JAN	1.66	0.37	0.27	15.58	1.38	(2.48)	4.92	(3.01)	18.21
14N1	0.88	0.02	0.11	(1.19)	1.17	(0.97)	1.92	(1.89)	6.79
U09	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SNF	2.26	(0.01)	0.00	(0.15)	0.00	0.00	4.78	(4.63)	18.71
12P	1.48	0.02	0.10	(0.18)	1.78	(1.52)	2.91	(2.64)	8.14
ODP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACX	2.29	0.29	0.08	0.35	3.14	(3.02)	5.20	(5.95)	35.30
719	1.45	(0.27)	0.00	0.11	0.00	0.00	2.91	(2.70)	34.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in UR ENERGY 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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