UNITEDHEALTH Correlations

91324PBK7

118.26 5.20 4.60%

The current 90-days correlation between UNITEDHEALTH GROUP INC and NI Holdings is -0.01 (i.e., Good diversification). The correlation of UNITEDHEALTH 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 Correlation With Market

Significant diversification

The correlation between UNITEDHEALTH GROUP INC and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNITEDHEALTH GROUP INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to UNITEDHEALTH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UNITEDHEALTH 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 UNITEDHEALTH - 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 UNITEDHEALTH GROUP INC to buy it.

Moving together with UNITEDHEALTH Bond

0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.76	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.72	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.7	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.69	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against UNITEDHEALTH Bond

0.63	GOOGL	Alphabet Class A	Pair Corr
0.58	90331HPL1	US BANK NATIONAL	Pair Corr
0.5	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.48	DIS	Walt Disney	Pair Corr
0.47	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.44	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.4	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.37	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	NODK	DOOO	APTV	PCAR	UCAR	ALHC	LNC-PD	CNA
NODK		-0.41	-0.42	0.59	-0.16	0.16	-0.06	0.38	NODK
DOOO	-0.41		0.76	-0.55	0.15	-0.47	0.17	-0.16	DOOO
APTV	-0.42	0.76		-0.66	0.13	-0.49	0.25	-0.01	APTV
PCAR	0.59	-0.55	-0.66		-0.29	0.59	0.23	0.46	PCAR
UCAR	-0.16	0.15	0.13	-0.29		0.08	0.16	-0.33	UCAR
ALHC	0.16	-0.47	-0.49	0.59	0.08		0.44	0.01	ALHC
LNC-PD	-0.06	0.17	0.25	0.23	0.16	0.44		0.34	LNC-PD
CNA	0.38	-0.16	-0.01	0.46	-0.33	0.01	0.34		CNA
	NODK	DOOO	APTV	PCAR	UCAR	ALHC	LNC-PD	CNA

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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

APTV	+ 0.76	DOOO
PCAR	+ 0.59	NODK
ALHC	+ 0.59	PCAR
CNA	+ 0.46	PCAR
LNC-PD	+ 0.44	ALHC
CNA	+ 0.38	NODK

High negative correlations

PCAR	- 0.66	APTV
PCAR	- 0.55	DOOO
ALHC	- 0.49	APTV
ALHC	- 0.47	DOOO
APTV	- 0.42	NODK
DOOO	- 0.41	NODK

Risk-Adjusted Indicators

There is a big difference between UNITEDHEALTH Bond performing well and UNITEDHEALTH Corporate Bond 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'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NODK	1.10	0.01	0.00	0.07	1.45	(1.09)	2.01	(2.17)	7.59
DOOO	1.59	(0.18)	0.00	(6.65)	0.00	0.00	3.49	(3.53)	11.25
APTV	1.44	(0.22)	0.00	(0.27)	0.00	0.00	2.66	(2.55)	20.38
PCAR	1.20	0.07	0.04	0.06	1.49	(1.31)	3.07	(2.64)	10.82
UCAR	3.41	0.36	0.07	(1.63)	4.18	(3.51)	6.02	(7.00)	17.72
ALHC	2.80	0.29	0.08	0.54	3.22	(3.10)	7.75	(4.81)	23.14
LNC-PD	0.44	0.00	(0.02)	(0.01)	0.52	(0.47)	1.02	(0.87)	2.33
CNA	0.97	(0.03)	0.00	(0.15)	0.00	0.00	1.38	(1.87)	6.20

Be your own money manager

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