Ulta Beauty Correlations

U1LT34 Stock  BRL 121.80  1.97  1.64%   
The current 90-days correlation between Ulta Beauty and DXC Technology is 0.23 (i.e., Modest diversification). The correlation of Ulta Beauty 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.

Ulta Beauty Correlation With Market

Good diversification

The correlation between Ulta Beauty and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ulta Beauty and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ulta Beauty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ulta Beauty 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 Ulta Beauty - 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 Ulta Beauty to buy it.

Moving together with Ulta Stock

  0.78ORLY34 OReilly AutomotivePairCorr
  0.88AZOI34 AutoZone,PairCorr
  0.89B1BW34 Bath Body WorksPairCorr
  0.81A1AP34 Advance Auto PartsPairCorr
  0.77TSMC34 Taiwan SemiconductorPairCorr
  0.8AAPL34 Apple IncPairCorr
  0.81MSFT34 MicrosoftPairCorr
  0.91GOGL35 AlphabetPairCorr
  0.91GOGL34 AlphabetPairCorr
  0.88AMZO34 Amazon IncPairCorr
  0.83H1SB34 HSBC Holdings plcPairCorr
  0.71J1EF34 Jefferies FinancialPairCorr

Moving against Ulta Stock

  0.77MGLU3 Magazine Luiza SAPairCorr
  0.54MELI34 MercadoLibrePairCorr

Related Correlations Analysis

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   
U2NF34D1XC34
T1TW34U2NF34
T1TW34D1XC34
B2YN34BROF11
U2NF34A2SO34
EAIN34T1TW34
  
High negative correlations   
B2YN34U2NF34
B2YN34T1TW34
B2YN34D1XC34
BROF11D1XC34
EAIN34A2SO34
BROF11U2NF34

Risk-Adjusted Indicators

There is a big difference between Ulta Stock performing well and Ulta Beauty 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 Ulta Beauty'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 Ulta Beauty 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.

Did you try this?

Run Watchlist Optimization Now

   

Watchlist Optimization

Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm
All  Next Launch Module

Ulta Beauty Corporate Management

Elected by the shareholders, the Ulta Beauty's board of directors comprises two types of representatives: Ulta Beauty inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ulta. The board's role is to monitor Ulta Beauty's management team and ensure that shareholders' interests are well served. Ulta Beauty's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ulta Beauty's outside directors are responsible for providing unbiased perspectives on the board's policies.