United Homes Correlations

UHGWW Stock

0.81 0.09 10.00%

The current 90-days correlation between United Homes Group and Minerals Technologies is 0.2 (i.e., Modest diversification). The correlation of United Homes 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 Homes Correlation With Market

Average diversification

The correlation between United Homes Group and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Homes Group and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in United Homes Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with United Stock

0.61	LEN	Lennar	Pair Corr
0.61	MCFT	MCBC Holdings Earnings Call This Week	Pair Corr

Moving against United Stock

0.54	NOBH	Nobility Homes	Pair Corr
0.63	EM	Smart Share Global	Pair Corr
0.58	AS	Amer Sports,	Pair Corr
0.41	JL	J Long Group Upward Rally	Pair Corr

Related Correlations Analysis

	MTX	AVNT	ZEUS	SCL	RDCM	WB	UEC
MTX		0.88	0.91	0.82	-0.27	-0.18	0.6	MTX
AVNT	0.88		0.94	0.93	-0.49	-0.29	0.7	AVNT
ZEUS	0.91	0.94		0.88	-0.31	-0.06	0.73	ZEUS
SCL	0.82	0.93	0.88		-0.64	-0.19	0.64	SCL
RDCM	-0.27	-0.49	-0.31	-0.64		0.32	-0.18	RDCM
WB	-0.18	-0.29	-0.06	-0.19	0.32		-0.02	WB
UEC	0.6	0.7	0.73	0.64	-0.18	-0.02		UEC
	MTX	AVNT	ZEUS	SCL	RDCM	WB	UEC

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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

ZEUS	+ 0.94	AVNT
SCL	+ 0.93	AVNT
ZEUS	+ 0.91	MTX
AVNT	+ 0.88	MTX
SCL	+ 0.88	ZEUS
SCL	+ 0.82	MTX

High negative correlations

RDCM	- 0.64	SCL
RDCM	- 0.49	AVNT
RDCM	- 0.31	ZEUS
WB	- 0.29	AVNT
RDCM	- 0.27	MTX
WB	- 0.19	SCL

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Homes 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 Homes' 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
MTX	1.18	(0.05)	(0.06)	(0.01)	1.52	(1.18)	2.21	(2.49)	13.23
AVNT	1.43	(0.20)	0.00	(0.14)	0.00	0.00	3.25	(2.34)	13.45
ZEUS	2.16	(0.12)	0.00	(0.02)	0.00	0.00	5.36	(3.64)	16.92
SCL	1.36	(0.21)	0.00	(0.69)	0.00	0.00	2.69	(2.84)	13.51
RDCM	2.62	0.42	0.10	6.01	3.00	(3.12)	5.55	(5.52)	21.11
WB	2.10	0.11	0.03	0.29	2.25	(2.33)	4.62	(3.33)	11.94
UEC	3.00	(0.10)	0.00	(0.20)	0.00	0.00	5.98	(5.34)	25.64

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