Uber Technologies Correlations

UBER Stock

USD 75.35 0.55 0.74%

The current 90-days correlation between Uber Technologies and Toast Inc is 0.29 (i.e., Modest diversification). The correlation of Uber Technologies 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.

Uber Technologies Correlation With Market

Excellent diversification

The correlation between Uber Technologies and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Uber Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Uber Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Uber Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

To learn how to invest in Uber Stock, please use our How to Invest in Uber Technologies guide.

Moving together with Uber Stock

0.81	WETO	Webus International	Pair Corr
0.71	CAR	Avis Budget Group	Pair Corr
0.77	GRAB	Grab Holdings	Pair Corr
0.93	LYFT	LYFT Inc	Pair Corr
0.8	PBCRF	PT Bank Central	Pair Corr

Moving against Uber Stock

0.86	ITW	Illinois Tool Works	Pair Corr
0.83	WZZZY	Wizz Air Holdings	Pair Corr
0.82	FKKFY	Fukuoka Financial	Pair Corr
0.81	LONKF	Lonking Holdings	Pair Corr
0.77	ASX	ASE Industrial Holding	Pair Corr
0.74	HBANM	Huntington Bancshares	Pair Corr
0.73	FRSB	First Resource Bank	Pair Corr
0.73	TSM	Taiwan Semiconductor	Pair Corr
0.73	BIRDF	Bird Construction	Pair Corr
0.72	AIQUF	LAir Liquide SA	Pair Corr
0.71	TWODF	Taylor Wimpey plc Earnings Call This Week	Pair Corr
0.69	OZK	Bank Ozk	Pair Corr
0.68	PPCLY	PPC Ltd ADR	Pair Corr
0.66	EG	Everest Group	Pair Corr
0.61	ALEEF	Alerio Gold Corp	Pair Corr
0.61	GAM	General American Inv	Pair Corr
0.39	EQMEF	Equity Metals	Pair Corr
0.39	TBIO	Telesis Bio	Pair Corr
0.88	SWGAY	Swatch Group AG	Pair Corr
0.85	DOV	Dover	Pair Corr
0.83	LIN	Linde plc Ordinary	Pair Corr
0.83	TKR	Timken Company	Pair Corr
0.83	FFBC	First Financial Bancorp	Pair Corr
0.79	DAR	Darling Ingredients	Pair Corr
0.79	SUBCY	Subsea 7 SA	Pair Corr
0.79	MOG-A	Moog Inc	Pair Corr

Related Correlations Analysis

	PTC	ZM	TTD	TYL	HUBS	AFRM	SSNC	CIEN	TOST
PTC		-0.28	0.91	0.92	0.95	0.78	0.88	-0.76	0.92	PTC
ZM	-0.28		-0.4	-0.41	-0.33	-0.25	-0.26	0.3	-0.27	ZM
TTD	0.91	-0.4		0.97	0.94	0.85	0.93	-0.88	0.93	TTD
TYL	0.92	-0.41	0.97		0.93	0.85	0.95	-0.87	0.94	TYL
HUBS	0.95	-0.33	0.94	0.93		0.85	0.93	-0.77	0.95	HUBS
AFRM	0.78	-0.25	0.85	0.85	0.85		0.91	-0.69	0.92	AFRM
SSNC	0.88	-0.26	0.93	0.95	0.93	0.91		-0.8	0.97	SSNC
CIEN	-0.76	0.3	-0.88	-0.87	-0.77	-0.69	-0.8		-0.78	CIEN
TOST	0.92	-0.27	0.93	0.94	0.95	0.92	0.97	-0.78		TOST
	PTC	ZM	TTD	TYL	HUBS	AFRM	SSNC	CIEN	TOST

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

TYL	+ 0.97	TTD
TOST	+ 0.97	SSNC
HUBS	+ 0.95	PTC
SSNC	+ 0.95	TYL
TOST	+ 0.95	HUBS
HUBS	+ 0.94	TTD

High negative correlations

CIEN	- 0.88	TTD
CIEN	- 0.87	TYL
CIEN	- 0.8	SSNC
TOST	- 0.78	CIEN
CIEN	- 0.77	HUBS
CIEN	- 0.76	PTC

Risk-Adjusted Indicators

There is a big difference between Uber Stock performing well and Uber Technologies 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 Uber Technologies' 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
PTC	1.36	(0.10)	0.00	0.76	0.00	0.00	2.10	(3.38)	7.45
ZM	1.98	(0.01)	0.00	0.14	0.00	0.00	3.85	(4.27)	15.97
TTD	1.96	(0.70)	0.00	(4.11)	0.00	0.00	3.46	(4.81)	15.09
TYL	2.03	(0.35)	0.00	1.31	0.00	0.00	3.50	(5.90)	19.29
HUBS	2.95	(0.31)	0.00	0.56	0.00	0.00	6.51	(8.38)	16.90
AFRM	2.71	(0.23)	0.00	0.67	0.00	0.00	5.09	(5.21)	23.76
SSNC	1.26	(0.11)	0.00	1.03	0.00	0.00	2.83	(2.40)	13.44
CIEN	3.16	1.09	0.24	(22.85)	3.68	(3.80)	9.22	(6.16)	23.22
TOST	2.28	(0.16)	0.00	0.35	0.00	0.00	4.14	(5.33)	14.93

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