Ultrapar Participacoes Correlations

UGP Stock

USD 3.06 0.20 6.13%

The current 90-days correlation between Ultrapar Participacoes and Cosan SA ADR is 0.69 (i.e., Poor diversification). The correlation of Ultrapar Participacoes 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.

Ultrapar Participacoes Correlation With Market

Modest diversification

The correlation between Ultrapar Participacoes SA and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultrapar Participacoes SA 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 Ultrapar Participacoes SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Ultrapar Stock

0.69	DINO	HF Sinclair Corp	Pair Corr
0.67	PARR	Par Pacific Holdings	Pair Corr
0.91	CSAN	Cosan SA ADR	Pair Corr
0.66	E	Eni SpA ADR	Pair Corr
0.76	BP	BP PLC ADR	Pair Corr
0.78	EC	Ecopetrol SA ADR	Pair Corr

Moving against Ultrapar Stock

0.85	AE	Adams Resources Energy	Pair Corr
0.51	REPYY	Repsol SA	Pair Corr
0.47	SGU	Star Gas Partners Earnings Call This Week	Pair Corr
0.92	EE	Excelerate Energy	Pair Corr
0.89	BDCO	Blue Dolphin Energy	Pair Corr
0.83	AMTX	Aemetis	Pair Corr
0.82	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.73	AR	Antero Resources Corp Potential Growth	Pair Corr
0.72	AM	Antero Midstream Partners	Pair Corr
0.61	HP	Helmerich and Payne	Pair Corr
0.44	EP	Empire Petroleum Corp	Pair Corr
0.35	MITSY	Mitsui Company	Pair Corr
0.87	TS	Tenaris SA ADR	Pair Corr
0.86	DMLP	Dorchester Minerals	Pair Corr
0.82	VNOM	Viper Energy Ut	Pair Corr
0.8	DLNG	Dynagas LNG Partners Earnings Call Tomorrow	Pair Corr
0.66	PR	Permian Resources	Pair Corr
0.46	SU	Suncor Energy	Pair Corr
0.4	VIST	Vista Oil Gas	Pair Corr
0.35	SM	SM Energy	Pair Corr

Related Correlations Analysis

	SGU	PARR	DK	CAPL	CSAN	VVV	NTOIF	DKL	SUN	DINO
SGU		-0.24	0.02	0.01	-0.49	-0.2	-0.54	0.01	0.46	-0.25	SGU
PARR	-0.24		0.78	-0.54	0.68	-0.03	0.77	0.34	0.31	0.89	PARR
DK	0.02	0.78		-0.4	0.56	-0.11	0.47	0.63	0.57	0.82	DK
CAPL	0.01	-0.54	-0.4		-0.22	-0.01	-0.38	-0.12	-0.15	-0.28	CAPL
CSAN	-0.49	0.68	0.56	-0.22		0.12	0.76	0.55	0.09	0.77	CSAN
VVV	-0.2	-0.03	-0.11	-0.01	0.12		-0.11	-0.22	-0.16	0.01	VVV
NTOIF	-0.54	0.77	0.47	-0.38	0.76	-0.11		0.26	-0.06	0.74	NTOIF
DKL	0.01	0.34	0.63	-0.12	0.55	-0.22	0.26		0.35	0.51	DKL
SUN	0.46	0.31	0.57	-0.15	0.09	-0.16	-0.06	0.35		0.33	SUN
DINO	-0.25	0.89	0.82	-0.28	0.77	0.01	0.74	0.51	0.33		DINO
	SGU	PARR	DK	CAPL	CSAN	VVV	NTOIF	DKL	SUN	DINO

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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

DINO	+ 0.89	PARR
DINO	+ 0.82	DK
DK	+ 0.78	PARR
NTOIF	+ 0.77	PARR
DINO	+ 0.77	CSAN
NTOIF	+ 0.76	CSAN

High negative correlations

CAPL	- 0.54	PARR
NTOIF	- 0.54	SGU
CSAN	- 0.49	SGU
CAPL	- 0.4	DK
NTOIF	- 0.38	CAPL
DINO	- 0.28	CAPL

Risk-Adjusted Indicators

There is a big difference between Ultrapar Stock performing well and Ultrapar Participacoes 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 Ultrapar Participacoes' 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
SGU	1.43	0.08	0.02	0.25	1.38	(1.91)	3.36	(2.59)	9.70
PARR	2.37	(0.51)	0.00	(0.19)	0.00	0.00	3.34	(5.60)	14.28
DK	2.04	(0.19)	0.00	(0.03)	0.00	0.00	3.44	(3.90)	16.10
CAPL	1.07	0.00	(0.06)	0.12	1.19	(1.19)	2.88	(2.23)	6.12
CSAN	1.89	(0.48)	0.00	(0.82)	0.00	0.00	4.06	(3.94)	11.53
VVV	1.14	(0.24)	0.00	(0.09)	0.00	0.00	2.29	(2.45)	13.07
NTOIF	2.60	(0.38)	0.00	0.62	0.00	0.00	5.69	(9.29)	29.47
DKL	1.09	0.14	(0.01)	(0.24)	2.29	(1.08)	2.84	(1.44)	16.59
SUN	1.01	(0.04)	(0.08)	0.05	1.08	(1.19)	2.68	(1.93)	5.70
DINO	1.53	(0.34)	0.00	(0.16)	0.00	0.00	2.75	(4.36)	11.79

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