UnitedHealth Group Correlations

Stocks . USA . 
Stock . UnitedHealth Group Incorporated
UNH Stock  USD 518.23  0.00  0.00%   
The current 90-days correlation between UnitedHealth Group and Cigna Corp is 0.02 (i.e., Significant diversification). The correlation of UnitedHealth Group 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.

UnitedHealth Group Correlation With Market

Significant diversification

The correlation between UnitedHealth Group Incorporate and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UnitedHealth Group Incorporate 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 UnitedHealth Group Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with UnitedHealth Stock

  0.72ELMD ElectromedPairCorr
  0.65ICUI ICU MedicalPairCorr
  0.66MLSS Milestone ScientificPairCorr
  0.69CVRX CVRx IncPairCorr

Moving against UnitedHealth Stock

  0.72LUNG Pulmonx CorpPairCorr
  0.48INMD InModePairCorr
  0.43ACONW AclarionPairCorr
  0.41LUCD Lucid DiagnosticsPairCorr
  0.62GILD Gilead SciencesPairCorr
  0.56OCX OncoCyte CorpPairCorr
  0.51AZN AstraZeneca PLC ADRPairCorr
  0.5GSK GlaxoSmithKline PLC ADRPairCorr
  0.45LLY Eli LillyPairCorr
  0.36SNY Sanofi ADRPairCorr

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   
ALHC
+ 0.91
ELV
CVS
+ 0.89
CI
ELV
+ 0.84
CI
ALHC
+ 0.8
CI
ALHC
+ 0.79
CVS
CVS
+ 0.76
ELV
  
High negative correlations   
CVS
- 0.49
CNC
CNC
- 0.36
CI
ALHC
- 0.07
CNC
CNC
- 0.06
ELV
CVS
- 0.05
HUM
HUM
- 0.05
CI

Risk-Adjusted Indicators

There is a big difference between UnitedHealth Stock performing well and UnitedHealth Group 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 UnitedHealth Group'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.

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