Uber Technologies Correlations

UBER Stock

USD 77.93 2.91 3.60%

The current 90-days correlation between Uber Technologies and Applovin Corp is 0.17 (i.e., Average 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

Very good diversification

The correlation between Uber Technologies and DJI is -0.49 (i.e., Very good 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 services.

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

Moving together with Uber Stock

0.72	MSFT	Microsoft	Pair Corr
0.67	HPQ	HP Inc	Pair Corr

Moving against Uber Stock

0.81	JNJ	Johnson Johnson	Pair Corr
0.72	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.67	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.55	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.55	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.52	PFE	Pfizer Inc	Pair Corr
0.5	KO	Coca Cola Aggressive Push	Pair Corr
0.47	BA	Boeing	Pair Corr
0.34	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	APP	INTU	NOW	SHOP	QCOM	CRM	LRCX	AMAT	ANET	SONY
APP		0.68	0.43	0.83	0.76	0.85	-0.32	-0.24	-0.11	0.21	APP
INTU	0.68		0.85	0.75	0.86	0.79	-0.81	-0.79	-0.2	0.74	INTU
NOW	0.43	0.85		0.56	0.72	0.53	-0.89	-0.88	0.09	0.89	NOW
SHOP	0.83	0.75	0.56		0.85	0.85	-0.39	-0.38	0.05	0.36	SHOP
QCOM	0.76	0.86	0.72	0.85		0.89	-0.56	-0.55	-0.04	0.55	QCOM
CRM	0.85	0.79	0.53	0.85	0.89		-0.36	-0.35	-0.01	0.27	CRM
LRCX	-0.32	-0.81	-0.89	-0.39	-0.56	-0.36		0.95	0.21	-0.92	LRCX
AMAT	-0.24	-0.79	-0.88	-0.38	-0.55	-0.35	0.95		0.1	-0.89	AMAT
ANET	-0.11	-0.2	0.09	0.05	-0.04	-0.01	0.21	0.1		-0.17	ANET
SONY	0.21	0.74	0.89	0.36	0.55	0.27	-0.92	-0.89	-0.17		SONY
	APP	INTU	NOW	SHOP	QCOM	CRM	LRCX	AMAT	ANET	SONY

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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

AMAT	+ 0.95	LRCX
SONY	+ 0.89	NOW
CRM	+ 0.89	QCOM
QCOM	+ 0.86	INTU
CRM	+ 0.85	APP
NOW	+ 0.85	INTU

High negative correlations

SONY	- 0.92	LRCX
SONY	- 0.89	AMAT
LRCX	- 0.89	NOW
AMAT	- 0.88	NOW
LRCX	- 0.81	INTU
AMAT	- 0.79	INTU

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
APP	2.96	(0.43)	0.00	(0.57)	0.00	0.00	5.06	(7.61)	24.49
INTU	1.73	(0.64)	0.00	(0.73)	0.00	0.00	2.38	(4.98)	10.97
NOW	1.83	(0.77)	0.00	(1.16)	0.00	0.00	2.43	(3.75)	14.07
SHOP	2.38	(0.66)	0.00	(0.27)	0.00	0.00	5.06	(6.94)	14.37
QCOM	1.43	(0.35)	0.00	(0.18)	0.00	0.00	2.56	(3.93)	8.77
CRM	1.65	(0.40)	0.00	(0.33)	0.00	0.00	2.94	(5.31)	12.37
LRCX	2.70	0.50	0.18	0.28	2.69	(2.98)	6.27	(5.01)	14.59
AMAT	2.18	0.41	0.16	0.27	2.33	(2.26)	5.00	(4.04)	12.51
ANET	2.19	(0.25)	0.00	(0.15)	0.00	0.00	5.22	(4.56)	13.06
SONY	1.10	(0.41)	0.00	(0.45)	0.00	0.00	2.31	(2.80)	7.67

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