United Parks Correlations

PRKS Stock

56.81 0.03 0.05%

The current 90-days correlation between United Parks Resorts and Maiden Holdings is -0.02 (i.e., Good diversification). The correlation of United Parks 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.

United Parks Correlation With Market

Very weak diversification

The correlation between United Parks Resorts and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Parks Resorts and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in United Parks Resorts. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with United Stock

0.7	BH	Biglari Holdings	Pair Corr
0.81	EVRI	Everi Holdings	Pair Corr
0.65	DPZ	Dominos Pizza	Pair Corr
0.66	DRI	Darden Restaurants	Pair Corr
0.87	EAT	Brinker International	Pair Corr
0.7	INSE	Inspired Entertainment	Pair Corr
0.68	NATH	Nathans Famous	Pair Corr
0.89	PLYA	Playa Hotels Resorts	Pair Corr
0.75	SHAK	Shake Shack	Pair Corr
0.64	BJRI	BJs Restaurants	Pair Corr
0.85	BROS	Dutch Bros	Pair Corr
0.81	TXRH	Texas Roadhouse	Pair Corr
0.85	DORM	Dorman Products	Pair Corr
0.77	WEYS	Weyco Group	Pair Corr
0.8	FLXS	Flexsteel Industries	Pair Corr
0.69	ABG	Asbury Automotive	Pair Corr

Moving against United Stock

0.8	ARKR	Ark Restaurants Corp	Pair Corr
0.68	BLMN	Bloomin Brands	Pair Corr
0.67	WING	Wingstop	Pair Corr
0.51	IGT	International Game	Pair Corr
0.76	HVT	Haverty Furniture	Pair Corr
0.75	LEA	Lear	Pair Corr
0.71	FOXF	Fox Factory Holding	Pair Corr
0.7	DAN	Dana Inc	Pair Corr
0.65	MHK	Mohawk Industries	Pair Corr
0.64	ASO	Academy Sports Outdoors Earnings Call This Week	Pair Corr
0.6	FND	Floor Decor Holdings	Pair Corr
0.47	FL	Foot Locker Earnings Call This Week	Pair Corr
0.46	ETD	Ethan Allen Interiors	Pair Corr
0.34	VC	Visteon Corp	Pair Corr
0.33	AN	AutoNation	Pair Corr

Related Correlations Analysis

	GOCO	MHLA	VC	SLF	ORI	MGA	AXL	UFCS
GOCO		0.86	-0.43	0.64	0.53	0.66	0.2	0.5	GOCO
MHLA	0.86		-0.53	0.58	0.45	0.56	0.1	0.41	MHLA
VC	-0.43	-0.53		-0.53	-0.3	-0.02	0.39	-0.24	VC
SLF	0.64	0.58	-0.53		0.82	0.64	0.29	0.78	SLF
ORI	0.53	0.45	-0.3	0.82		0.76	0.54	0.92	ORI
MGA	0.66	0.56	-0.02	0.64	0.76		0.72	0.72	MGA
AXL	0.2	0.1	0.39	0.29	0.54	0.72		0.46	AXL
UFCS	0.5	0.41	-0.24	0.78	0.92	0.72	0.46		UFCS
	GOCO	MHLA	VC	SLF	ORI	MGA	AXL	UFCS

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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

UFCS	+ 0.92	ORI
MHLA	+ 0.86	GOCO
ORI	+ 0.82	SLF
UFCS	+ 0.78	SLF
MGA	+ 0.76	ORI
AXL	+ 0.72	MGA

High negative correlations

SLF	- 0.53	VC
VC	- 0.53	MHLA
VC	- 0.43	GOCO
ORI	- 0.3	VC
UFCS	- 0.24	VC
MGA	- 0.02	VC

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Parks 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 United Parks' 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
GOCO	3.76	0.67	0.15	1.14	3.67	(4.60)	8.03	(6.88)	37.83
MHLA	1.11	0.06	(0.02)	0.35	1.54	(1.24)	2.54	(2.45)	10.27
VC	1.57	(0.23)	0.00	(0.05)	0.00	0.00	3.18	(3.23)	9.85
SLF	0.63	0.15	0.14	0.37	0.33	(0.78)	1.39	(0.93)	5.10
ORI	0.77	0.05	0.04	0.18	0.96	(0.80)	1.48	(1.52)	5.39
MGA	1.56	0.00	0.02	0.12	2.04	(1.52)	3.49	(3.77)	9.36
AXL	1.97	(0.17)	(0.02)	0.04	2.11	(2.26)	5.00	(3.27)	12.38
UFCS	1.87	0.27	0.33	0.20	1.08	(2.32)	4.68	(2.48)	28.06

United Parks Corporate Management

Marc Swanson	Chief Officer	Profile
Shekufeh Boyle	Chief Officer	Profile
William II	Chief Officer	Profile
James Forrester	Interim Treasurer	Profile
Bradley Gilmour	Park Cove	Profile
Jodi Davenport	Park Antonio	Profile

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