Under Armour Correlations

UA Stock

USD 6.67 0.07 1.06%

The current 90-days correlation between Under Armour C and Levi Strauss Co is 0.19 (i.e., Average diversification). The correlation of Under Armour 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.

Under Armour Correlation With Market

Average diversification

The correlation between Under Armour C and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Under Armour C and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Under Armour C. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Under Stock

0.88	BC	Brunswick	Pair Corr
0.67	DOGZ	Dogness International Earnings Call Today	Pair Corr
0.77	BLD	Topbuild Corp Earnings Call Today	Pair Corr
0.88	CCS	Century Communities	Pair Corr
0.89	DFH	Dream Finders Homes Earnings Call Today	Pair Corr
0.91	DHI	DR Horton	Pair Corr
0.83	HWH	HWH International	Pair Corr
0.93	MHO	MI Homes	Pair Corr
0.83	MPX	Marine Products	Pair Corr
0.75	PVH	PVH Corp	Pair Corr
0.89	TPH	TRI Pointe Homes	Pair Corr
0.73	UHG	United Homes Group	Pair Corr
0.92	VRA	Vera Bradley	Pair Corr
0.62	WWW	Wolverine World Wide	Pair Corr
0.62	GOLF	Acushnet Holdings Corp Earnings Call Today	Pair Corr
0.73	YETI	YETI Holdings	Pair Corr
0.92	LGIH	LGI Homes	Pair Corr

Moving against Under Stock

0.81	TPR	Tapestry	Pair Corr
0.77	RL	Ralph Lauren Corp	Pair Corr
0.75	VFC	VF Corporation	Pair Corr
0.53	MSN	Emerson Radio	Pair Corr
0.41	GIL	Gildan Activewear	Pair Corr
0.4	MAT	Mattel Inc	Pair Corr
0.8	MYTE	MYT Netherlands Parent	Pair Corr
0.73	JRSH	Jerash Holdings	Pair Corr
0.65	PLBY	Plby Group	Pair Corr
0.62	SONY	Sony Group Corp	Pair Corr
0.59	AREBW	American Rebel Holdings	Pair Corr
0.55	GOOS	Canada Goose Holdings	Pair Corr
0.54	JAKK	JAKKS Pacific Earnings Call Today	Pair Corr
0.52	RCKY	Rocky Brands Earnings Call Today	Pair Corr
0.46	LEVI	Levi Strauss	Pair Corr
0.36	LANV	Lanvin Group Holdings	Pair Corr

Related Correlations Analysis

	LEVI	COLM	HBI	PVH	VFC	UAA	RL
LEVI		0.2	-0.44	-0.56	0.73	0.05	0.76	LEVI
COLM	0.2		-0.06	0.19	0.22	0.4	0.07	COLM
HBI	-0.44	-0.06		0.78	-0.58	0.58	-0.77	HBI
PVH	-0.56	0.19	0.78		-0.75	0.66	-0.83	PVH
VFC	0.73	0.22	-0.58	-0.75		-0.31	0.86	VFC
UAA	0.05	0.4	0.58	0.66	-0.31		-0.36	UAA
RL	0.76	0.07	-0.77	-0.83	0.86	-0.36		RL
	LEVI	COLM	HBI	PVH	VFC	UAA	RL

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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

RL	+ 0.86	VFC
PVH	+ 0.78	HBI
RL	+ 0.76	LEVI
VFC	+ 0.73	LEVI
UAA	+ 0.66	PVH
UAA	+ 0.58	HBI

High negative correlations

RL	- 0.83	PVH
RL	- 0.77	HBI
VFC	- 0.75	PVH
VFC	- 0.58	HBI
PVH	- 0.56	LEVI
HBI	- 0.44	LEVI

Risk-Adjusted Indicators

There is a big difference between Under Stock performing well and Under Armour 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 Under Armour'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
LEVI	1.52	0.19	0.12	0.27	1.43	(1.82)	4.18	(2.32)	8.10
COLM	1.26	0.17	0.09	0.48	1.63	(1.27)	3.94	(2.67)	11.19
HBI	1.95	(0.33)	0.00	(0.75)	0.00	0.00	4.27	(4.25)	23.59
PVH	1.69	(0.38)	0.00	0.88	0.00	0.00	3.68	(3.83)	11.43
VFC	1.92	0.41	0.20	3.77	1.67	(2.23)	5.08	(3.56)	11.00
UAA	1.90	(0.50)	0.00	(1.81)	0.00	0.00	4.15	(6.89)	13.25
RL	1.41	0.40	0.25	0.59	1.26	(1.63)	3.70	(2.95)	12.77

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