UFP Technologies Correlations

UFPT Stock

USD 206.98 9.32 4.31%

The current 90-days correlation between UFP Technologies and iRhythm Technologies is 0.1 (i.e., Average diversification). The correlation of UFP 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.

UFP Technologies Correlation With Market

Weak diversification

The correlation between UFP 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 UFP 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 UFP 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 american community survey.

For more information on how to buy UFP Stock please use our How to Invest in UFP Technologies guide.

Moving together with UFP Stock

0.78	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.62	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.75	ELMD	Electromed Potential Growth	Pair Corr
0.89	ENOV	Enovis Corp	Pair Corr
0.71	ENSG	Ensign Group	Pair Corr
0.67	WORX	Scworx Corp	Pair Corr
0.66	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.77	XAIR	Beyond Air	Pair Corr

Moving against UFP Stock

0.44	FEMY	Femasys	Pair Corr
0.34	CI	Cigna Corp	Pair Corr
0.31	ESTA	Establishment Labs	Pair Corr
0.6	BKD	Brookdale Senior Living	Pair Corr
0.45	CHE	Chemed Corp	Pair Corr
0.43	BAX	Baxter International	Pair Corr
0.39	DGX	Quest Diagnostics	Pair Corr
0.33	CVS	CVS Health Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	KIDS	IRTC	NPCE	HSKA	ELMD	VREX	SGHT	APYX	SIBN	IRMD
KIDS		0.56	0.33	0.0	0.35	-0.42	-0.51	-0.46	0.44	0.44	KIDS
IRTC	0.56		0.74	0.0	0.28	-0.62	-0.82	-0.47	0.92	0.5	IRTC
NPCE	0.33	0.74		0.0	0.62	-0.12	-0.34	0.08	0.72	0.75	NPCE
HSKA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	HSKA
ELMD	0.35	0.28	0.62	0.0		0.32	0.12	0.36	0.25	0.88	ELMD
VREX	-0.42	-0.62	-0.12	0.0	0.32		0.83	0.79	-0.56	0.09	VREX
SGHT	-0.51	-0.82	-0.34	0.0	0.12	0.83		0.79	-0.78	-0.13	SGHT
APYX	-0.46	-0.47	0.08	0.0	0.36	0.79	0.79		-0.41	0.17	APYX
SIBN	0.44	0.92	0.72	0.0	0.25	-0.56	-0.78	-0.41		0.48	SIBN
IRMD	0.44	0.5	0.75	0.0	0.88	0.09	-0.13	0.17	0.48		IRMD
	KIDS	IRTC	NPCE	HSKA	ELMD	VREX	SGHT	APYX	SIBN	IRMD

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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

SIBN	+ 0.92	IRTC
IRMD	+ 0.88	ELMD
SGHT	+ 0.83	VREX
APYX	+ 0.79	VREX
APYX	+ 0.79	SGHT
IRMD	+ 0.75	NPCE

High negative correlations

SGHT	- 0.82	IRTC
SIBN	- 0.78	SGHT
VREX	- 0.62	IRTC
SIBN	- 0.56	VREX
SGHT	- 0.51	KIDS
APYX	- 0.47	IRTC

Risk-Adjusted Indicators

There is a big difference between UFP Stock performing well and UFP 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 UFP 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
KIDS	1.91	0.28	0.12	0.19	2.17	(2.05)	3.54	(3.39)	15.28
IRTC	2.17	0.40	0.17	1.01	2.34	(2.24)	4.96	(3.94)	11.85
NPCE	3.21	0.24	0.05	0.08	3.81	(3.43)	5.89	(6.82)	17.98
HSKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELMD	2.33	(0.14)	0.00	(0.22)	0.00	0.00	3.90	(4.34)	21.31
VREX	2.02	(0.12)	0.00	(0.20)	0.00	0.00	4.17	(4.15)	25.21
SGHT	3.26	(0.36)	0.00	(0.44)	0.00	0.00	7.19	(6.05)	24.66
APYX	3.43	(0.33)	0.00	(0.31)	0.00	0.00	7.14	(8.97)	22.04
SIBN	2.49	0.35	0.13	0.16	2.21	(3.39)	5.29	(3.92)	22.82
IRMD	1.36	(0.01)	0.00	(0.10)	0.00	0.00	2.43	(2.77)	11.55

UFP Technologies Corporate Management

Mitchell Rock	Sr. VP of Sales and Marketing	Profile
Steven Cardin	VP MedTech	Profile
Jason Holt	Chief Officer	Profile
Christopher Esq	Secretary Counsel	Profile

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