Manchester United Correlations

MANU Stock

USD 17.50 0.04 0.23%

The current 90-days correlation between Manchester United and Sphere Entertainment Co is 0.15 (i.e., Average diversification). The correlation of Manchester United 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.

Manchester United Correlation With Market

Weak diversification

The correlation between Manchester United and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manchester United and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Manchester United. 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.

For more information on how to buy Manchester Stock please use our How to Invest in Manchester United guide.

Moving together with Manchester Stock

0.7	EA	Electronic Arts	Pair Corr
0.75	OB	Outbrain	Pair Corr

Moving against Manchester Stock

0.64	TU	Telus Corp	Pair Corr
0.64	VZ	Verizon Communications Aggressive Push	Pair Corr
0.46	TC	TuanChe ADR	Pair Corr
0.34	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr
0.32	IQ	iQIYI Inc	Pair Corr
0.55	BCE	BCE Inc	Pair Corr
0.46	CELJF	Cellcom Israel	Pair Corr
0.4	FENG	Phoenix New Media	Pair Corr
0.37	WWRL	World Wireless Commu	Pair Corr
0.34	CHR	Cheer Holding	Pair Corr
0.31	AMX	America Movil SAB	Pair Corr

Related Correlations Analysis

	EDR	LYV	WMG	FWONA	SPHR	BATRA	BATRK	MCS	MSGS	WWE
EDR		0.85	0.85	0.69	-0.11	-0.74	-0.67	0.63	0.85	-0.26	EDR
LYV	0.85		0.9	0.87	-0.34	-0.66	-0.5	0.89	0.9	0.07	LYV
WMG	0.85	0.9		0.79	-0.23	-0.64	-0.51	0.77	0.84	-0.04	WMG
FWONA	0.69	0.87	0.79		-0.28	-0.4	-0.27	0.84	0.85	0.28	FWONA
SPHR	-0.11	-0.34	-0.23	-0.28		0.5	0.46	-0.4	-0.06	-0.19	SPHR
BATRA	-0.74	-0.66	-0.64	-0.4	0.5		0.96	-0.44	-0.46	0.39	BATRA
BATRK	-0.67	-0.5	-0.51	-0.27	0.46	0.96		-0.28	-0.33	0.45	BATRK
MCS	0.63	0.89	0.77	0.84	-0.4	-0.44	-0.28		0.82	0.42	MCS
MSGS	0.85	0.9	0.84	0.85	-0.06	-0.46	-0.33	0.82		0.15	MSGS
WWE	-0.26	0.07	-0.04	0.28	-0.19	0.39	0.45	0.42	0.15		WWE
	EDR	LYV	WMG	FWONA	SPHR	BATRA	BATRK	MCS	MSGS	WWE

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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

BATRK	+ 0.96	BATRA
WMG	+ 0.9	LYV
MSGS	+ 0.9	LYV
MCS	+ 0.89	LYV
FWONA	+ 0.87	LYV
LYV	+ 0.85	EDR

High negative correlations

BATRA	- 0.74	EDR
BATRK	- 0.67	EDR
BATRA	- 0.66	LYV
BATRA	- 0.64	WMG
BATRK	- 0.51	WMG
BATRK	- 0.5	LYV

Risk-Adjusted Indicators

There is a big difference between Manchester Stock performing well and Manchester United 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 Manchester United'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
EDR	0.38	0.10	(0.01)	1.01	0.30	(0.43)	1.13	(0.61)	3.12
LYV	1.06	0.45	0.42	0.54	0.48	(1.35)	2.70	(1.51)	9.16
WMG	0.89	0.13	0.02	0.66	1.66	(0.92)	2.15	(2.03)	11.14
FWONA	1.10	0.04	0.02	0.16	1.39	(1.14)	2.10	(1.69)	8.37
SPHR	2.14	(0.41)	0.00	(0.19)	0.00	0.00	5.06	(4.40)	14.27
BATRA	0.91	(0.21)	0.00	(0.26)	0.00	0.00	1.45	(1.98)	5.15
BATRK	1.03	(0.19)	0.00	(0.18)	0.00	0.00	1.80	(2.35)	4.84
MCS	1.41	0.66	0.55	1.23	0.23	(1.83)	4.33	(1.58)	12.63
MSGS	0.75	0.06	0.03	0.20	0.76	(0.80)	1.45	(1.32)	5.10
WWE	1.22	0.05	(0.06)	(0.05)	1.78	(1.24)	2.29	(2.26)	10.26

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