Universal Technical Correlations

UTI Stock

USD 26.50 0.83 3.04%

The correlation of Universal Technical 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.

Universal Technical Correlation With Market

Good diversification

The correlation between Universal Technical Institute and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Technical Institute 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 Universal Technical Institute. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Universal Stock

0.71	DAO	Youdao Inc	Pair Corr
0.73	GHC	Graham Holdings	Pair Corr
0.81	LRN	Stride Inc	Pair Corr
0.68	TAL	TAL Education Group	Pair Corr
0.76	LAUR	Laureate Education	Pair Corr
0.67	LINC	Lincoln Educational	Pair Corr
0.82	LOPE	Grand Canyon Education	Pair Corr
0.86	ATGE	Adtalem Global Education	Pair Corr

Moving against Universal Stock

0.51	EDU	New Oriental Education	Pair Corr
0.51	GNS	Genius Group	Pair Corr
0.6	MYND	Myndai,	Pair Corr
0.42	CLEU	China Liberal Education	Pair Corr
0.36	NAMI	Jinxin Technology Holding	Pair Corr

Related Correlations Analysis

	LAUR	APEI	LINC	ATGE	AFYA	STRA	LOPE
LAUR		0.36	0.71	0.75	0.78	-0.01	0.88	LAUR
APEI	0.36		0.06	0.23	0.52	0.02	0.23	APEI
LINC	0.71	0.06		0.65	0.4	0.33	0.86	LINC
ATGE	0.75	0.23	0.65		0.5	0.36	0.87	ATGE
AFYA	0.78	0.52	0.4	0.5		-0.21	0.59	AFYA
STRA	-0.01	0.02	0.33	0.36	-0.21		0.32	STRA
LOPE	0.88	0.23	0.86	0.87	0.59	0.32		LOPE
	LAUR	APEI	LINC	ATGE	AFYA	STRA	LOPE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

LOPE	+ 0.88	LAUR
LOPE	+ 0.87	ATGE
LOPE	+ 0.86	LINC
AFYA	+ 0.78	LAUR
ATGE	+ 0.75	LAUR
LINC	+ 0.71	LAUR

High negative correlations

STRA	- 0.21	AFYA
STRA	- 0.01	LAUR

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Technical 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 Universal Technical'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
LAUR	1.18	0.17	0.09	0.19	1.68	(1.20)	2.45	(1.83)	10.76
APEI	2.27	0.18	0.07	0.10	2.41	(2.52)	4.02	(3.76)	27.37
LINC	2.34	0.10	0.03	0.05	3.15	(2.31)	4.68	(5.12)	22.97
ATGE	1.87	0.20	0.08	(0.86)	2.32	(1.87)	4.07	(3.35)	11.82
AFYA	1.64	0.29	0.13	4.86	1.88	(1.82)	3.32	(3.68)	11.69
STRA	1.13	(0.14)	0.00	(0.21)	0.00	0.00	1.54	(2.51)	21.01
LOPE	0.96	0.11	0.07	0.14	1.37	(0.91)	1.93	(2.20)	7.34

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC