Unum Correlations

Stocks . USA . 
Stock . Unum Group
UNMA Stock  USD 25.10  0.07  0.28%   
The current 90-days correlation between Unum Group and Vulcan Materials is 0.38 (i.e., Weak diversification). The correlation of Unum 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.

Unum Correlation With Market

Weak diversification

The correlation between Unum Group and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unum Group 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 Unum Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Unum Stock

  0.69RZB Reinsurance GroupPairCorr
  0.76EVTC EvertecPairCorr
  0.63FCRX First Eagle AlternativePairCorr
  0.65HCXY Hercules CapitalPairCorr
  0.65RWAYL MSCI ACWI exAUCONSUMERPairCorr

Moving against Unum Stock

  0.69PRE Prenetics GlobalPairCorr
  0.67FLYW Flywire CorpPairCorr
  0.56FAAS DigiAsia Corp Symbol ChangePairCorr
  0.54STSSW Sharps Technology WarrantPairCorr
  0.52FIS Fidelity NationalPairCorr
  0.46DLO DlocalPairCorr
  0.4FACT FACT II Acquisition TrendingPairCorr
  0.35ABLLL Abacus Life, 9875PairCorr
  0.64JNVR Janover Common Stock Downward RallyPairCorr
  0.59MOGO Mogo Inc Tech BoostPairCorr
  0.58RCB Ready CapitalPairCorr
  0.57SWKHL SWK HoldingsPairCorr
  0.42ATMCR AlphaTime AcquisitionPairCorr

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   
IPGP
+ 0.7
VMC
ZIJMF
+ 0.65
MAKOF
CPAC
+ 0.48
ZIJMF
CPAC
+ 0.43
MAKOF
CPAC
+ 0.17
VMC
CRZNF
+ 0.0
MAKOF
  
High negative correlations   
CHMN
- 1.0
CRZNF
IPGP
- 0.77
MAKOF
IPGP
- 0.47
ZIJMF
VMC
- 0.35
MAKOF
IPGP
- 0.22
CPAC
VMC
- 0.18
ZIJMF

Risk-Adjusted Indicators

There is a big difference between Unum Stock performing well and Unum 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 Unum'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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