United Breweries Correlations

UBL Stock

1,903 6.10 0.32%

The current 90-days correlation between United Breweries and Mahindra Logistics Limited is 0.16 (i.e., Average diversification). The correlation of United Breweries 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.

United Breweries Correlation With Market

Average diversification

The correlation between United Breweries Limited and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Breweries Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to United Breweries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace United Breweries 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 United Breweries - 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 United Breweries Limited to buy it.

Moving together with United Stock

0.75	RELIANCE	Reliance Industries Split	Pair Corr
0.64	ONGC	Oil Natural Gas	Pair Corr
0.63	BHARTIARTL	Bharti Airtel Limited	Pair Corr

Related Correlations Analysis

	MELSTAR	CCCL	BIOFILCHEM	INDIAGLYCO	INDOBORAX	KINGFA	ALKALI	MAHLOG	KREBSBIO	KNRCON
MELSTAR		-0.67	-0.2	0.17	-0.07	0.1	-0.24	0.25	-0.05	0.2	MELSTAR
CCCL	-0.67		0.6	0.11	0.3	-0.01	0.27	0.06	-0.11	-0.12	CCCL
BIOFILCHEM	-0.2	0.6		0.37	0.67	0.58	0.52	0.62	0.04	0.37	BIOFILCHEM
INDIAGLYCO	0.17	0.11	0.37		0.19	0.51	0.29	0.7	-0.27	0.29	INDIAGLYCO
INDOBORAX	-0.07	0.3	0.67	0.19		0.72	0.66	0.61	0.12	0.56	INDOBORAX
KINGFA	0.1	-0.01	0.58	0.51	0.72		0.64	0.79	-0.02	0.75	KINGFA
ALKALI	-0.24	0.27	0.52	0.29	0.66	0.64		0.44	0.14	0.57	ALKALI
MAHLOG	0.25	0.06	0.62	0.7	0.61	0.79	0.44		-0.23	0.69	MAHLOG
KREBSBIO	-0.05	-0.11	0.04	-0.27	0.12	-0.02	0.14	-0.23		0.09	KREBSBIO
KNRCON	0.2	-0.12	0.37	0.29	0.56	0.75	0.57	0.69	0.09		KNRCON
	MELSTAR	CCCL	BIOFILCHEM	INDIAGLYCO	INDOBORAX	KINGFA	ALKALI	MAHLOG	KREBSBIO	KNRCON

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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

MAHLOG	+ 0.79	KINGFA
KNRCON	+ 0.75	KINGFA
KINGFA	+ 0.72	INDOBORAX
MAHLOG	+ 0.7	INDIAGLYCO
KNRCON	+ 0.69	MAHLOG
INDOBORAX	+ 0.67	BIOFILCHEM

High negative correlations

CCCL	- 0.67	MELSTAR
KREBSBIO	- 0.27	INDIAGLYCO
ALKALI	- 0.24	MELSTAR
KREBSBIO	- 0.23	MAHLOG
BIOFILCHEM	- 0.2	MELSTAR
KNRCON	- 0.12	CCCL

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Breweries 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 Breweries' 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
MELSTAR	139.45	76.72	0.00	(1.12)	0.00	0.00	0.00	0.00	4,769
CCCL	19.75	12.17	4.07	(0.94)	1.76	(30.18)	5.00	(5.00)	667.72
BIOFILCHEM	2.71	0.00	0.00	0.13	0.00	0.00	5.41	(4.53)	25.08
INDIAGLYCO	2.29	(0.06)	0.00	(0.14)	0.00	0.00	5.48	(4.42)	23.17
INDOBORAX	2.70	0.01	(0.02)	0.14	2.86	(3.36)	6.42	(5.16)	19.96
KINGFA	1.65	(0.25)	0.00	(0.79)	0.00	0.00	3.60	(3.65)	9.31
ALKALI	1.95	(0.05)	(0.03)	0.05	2.41	(2.27)	3.85	(4.61)	26.39
MAHLOG	1.37	(0.39)	0.00	4.53	0.00	0.00	2.45	(3.91)	9.42
KREBSBIO	2.53	0.39	0.23	0.42	1.58	(4.01)	5.00	(2.81)	9.84
KNRCON	1.98	(0.08)	0.00	(1.75)	0.00	0.00	3.86	(3.77)	10.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Breweries 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.

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