URBAN OUTFITTERS Correlations

Stocks . Germany . 
Stock . URBAN OUTFITTERS
UOF Stock   45.00  0.20  0.44%   
The current 90-days correlation between URBAN OUTFITTERS and Altair Engineering is 0.14 (i.e., Average diversification). The correlation of URBAN OUTFITTERS 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.

URBAN OUTFITTERS Correlation With Market

Average diversification

The correlation between URBAN OUTFITTERS and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding URBAN OUTFITTERS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to URBAN OUTFITTERS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace URBAN OUTFITTERS 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 URBAN OUTFITTERS - 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 URBAN OUTFITTERS to buy it.

Moving together with URBAN Stock

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  0.66MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
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Moving against URBAN Stock

  0.5DBPE Xtrackers LevDAXPairCorr
  0.31E908 Lyxor 1PairCorr

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   
CBR
+ 0.85
D1LN
FFC0
+ 0.58
8A2
WB2
+ 0.58
8A2
BZU
+ 0.56
D1LN
BZU
+ 0.53
FFC0
BZU
+ 0.45
8A2
  
High negative correlations   
WB2
- 0.58
CBR
WB2
- 0.49
D1LN
CBR
- 0.3
8A2
D1LN
- 0.12
8A2

Risk-Adjusted Indicators

There is a big difference between URBAN Stock performing well and URBAN OUTFITTERS 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 URBAN OUTFITTERS'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in URBAN OUTFITTERS 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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