UFP Industries Correlations

UF3 Stock  EUR 108.20  2.15  1.95%   
The current 90-days correlation between UFP Industries and Svenska Cellulosa Aktiebolaget is 0.15 (i.e., Average diversification). The correlation of UFP Industries 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.

UFP Industries Correlation With Market

Very weak diversification

The correlation between UFP Industries and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UFP Industries and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to UFP Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UFP Industries 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 UFP Industries - 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 UFP Industries to buy it.

Moving together with UFP Stock

  0.74WFC West Fraser TimberPairCorr
  0.64RA6 RayonierPairCorr
  0.9BC0 Boise CascadePairCorr
  0.7NKC CanforPairCorr
  0.63ALS AllstatePairCorr
  0.6374F LIFE BANC SPLITPairCorr

Moving against UFP Stock

  0.434Y7 PLATO GOLD PPairCorr
  0.3897S STELLA JONES INCPairCorr

Related Correlations Analysis

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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   
SCA1SCA
SCASCA
SCA1SCA
BC0UF3
AS497S
NKCWFC
  
High negative correlations   
97SBC0
97SUF3
AS4BC0
BC0SCA1
BC0SCA
BC0SCA

Risk-Adjusted Indicators

There is a big difference between UFP Stock performing well and UFP Industries 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 UFP Industries' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SCA  1.17 (0.14) 0.00 (2.26) 0.00 
 2.67 
 7.60 
SCA  1.08 (0.10) 0.00 (0.62) 0.00 
 1.89 
 8.59 
SCA1  1.11 (0.14) 0.00  0.51  0.00 
 2.05 
 7.12 
WFC  1.17 (0.06) 0.00 (0.10) 0.00 
 2.75 
 8.87 
UF3  1.44 (0.15) 0.00 (0.08) 0.00 
 3.95 
 10.37 
RA6  0.94 (0.07) 0.00 (1.00) 0.00 
 2.12 
 5.22 
BC0  1.55 (0.14) 0.00 (0.14) 0.00 
 3.42 
 13.43 
NKC  1.42 (0.11) 0.00 (0.36) 0.00 
 2.80 
 9.89 
97S  1.79 (0.30) 0.00  0.88  0.00 
 4.68 
 14.25 
AS4  0.69 (0.18) 0.00 (0.99) 0.00 
 1.25 
 4.40 

Be your own money manager

Our tools can tell you how much better you can do entering a position in UFP Industries 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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UFP Industries Corporate Management

Elected by the shareholders, the UFP Industries' board of directors comprises two types of representatives: UFP Industries inside directors who are chosen from within the company, and outside directors, selected externally and held independent of UFP. The board's role is to monitor UFP Industries' management team and ensure that shareholders' interests are well served. UFP Industries' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, UFP Industries' outside directors are responsible for providing unbiased perspectives on the board's policies.