Uber Technologies Correlations

UBER Stock

USD 71.96 0.34 0.47%

The correlation of Uber Technologies 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.

Uber Technologies Correlation With Market

Weak diversification

The correlation between Uber Technologies and DJI is 0.32 (i.e., Weak 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.

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

To learn how to invest in Uber Stock, please use our How to Invest in Uber Technologies guide.

Moving against Uber Stock

0.7	DTRK	DATATRAK International	Pair Corr
0.55	DV	DoubleVerify Holdings	Pair Corr
0.55	EB	Eventbrite Class A	Pair Corr
0.55	VCSA	Vacasa Inc Trending	Pair Corr
0.38	ML	MoneyLion	Pair Corr
0.36	DJCO	Daily Journal Corp	Pair Corr
0.64	EXFY	Expensify	Pair Corr
0.6	WDAY	Workday	Pair Corr
0.47	VMEO	Vimeo Inc	Pair Corr
0.34	EZFL	EzFill Holdings	Pair Corr
0.32	VTSI	VirTra Inc	Pair Corr
0.32	EGAN	eGain	Pair Corr

Related Correlations Analysis

	ZM	SNOW	WDAY	AI	SHOP	INTU	CRM	TTD
ZM		0.75	0.56	0.8	0.85	0.6	0.91	0.86	ZM
SNOW	0.75		0.47	0.94	0.82	0.31	0.73	0.67	SNOW
WDAY	0.56	0.47		0.39	0.53	0.73	0.36	0.21	WDAY
AI	0.8	0.94	0.39		0.84	0.29	0.82	0.78	AI
SHOP	0.85	0.82	0.53	0.84		0.57	0.9	0.78	SHOP
INTU	0.6	0.31	0.73	0.29	0.57		0.5	0.4	INTU
CRM	0.91	0.73	0.36	0.82	0.9	0.5		0.94	CRM
TTD	0.86	0.67	0.21	0.78	0.78	0.4	0.94		TTD
	ZM	SNOW	WDAY	AI	SHOP	INTU	CRM	TTD

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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
ZM	1.50	0.13	0.06	0.28	1.84	(1.55)	2.97	(3.04)	12.08
SNOW	2.03	0.51	0.30	0.38	1.45	(2.31)	4.20	(3.34)	34.99
WDAY	1.24	(0.16)	0.00	(0.07)	0.00	0.00	2.45	(2.16)	10.59
AI	2.50	0.57	0.22	0.44	2.24	(2.70)	6.94	(5.04)	28.15
SHOP	1.94	0.60	0.30	0.64	1.51	(2.31)	4.91	(2.41)	26.26
INTU	1.25	(0.06)	(0.03)	0.07	1.73	(1.32)	3.34	(2.37)	10.46
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
TTD	1.46	0.23	0.11	0.36	1.72	(1.60)	3.36	(3.12)	12.33

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Uber Technologies Correlations

Uber Technologies Correlation With Market

Weak diversification

Moving against Uber Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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