UNIV HEALTH Correlations

UHS Stock

EUR 196.00 7.00 3.70%

The current 90-days correlation between UNIV HEALTH SERV and SPARTAN STORES is 0.07 (i.e., Significant diversification). The correlation of UNIV HEALTH 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.

UNIV HEALTH Correlation With Market

Average diversification

The correlation between UNIV HEALTH SERV B and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNIV HEALTH SERV B and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with UNIV Stock

0.62

CXT

Carmat SA

Pair Corr

Moving against UNIV Stock

0.68	ADH2	Air Canada	Pair Corr
0.66	AMZ	Amazon Inc	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.43	APC	Apple Inc	Pair Corr
0.41	APC	Apple Inc	Pair Corr
0.41	MSF	Microsoft	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.4	MSF	Microsoft	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.38	MSF	Microsoft	Pair Corr

Related Correlations Analysis

	SRJ	WE7	R6N	8BJ	LY1	PCHP	PIK	CZ2
SRJ		-0.03	0.62	-0.51	0.41	0.14	-0.32	0.47	SRJ
WE7	-0.03		-0.54	0.65	0.62	-0.75	0.59	-0.17	WE7
R6N	0.62	-0.54		-0.81	0.09	0.44	-0.53	0.65	R6N
8BJ	-0.51	0.65	-0.81		0.15	-0.63	0.69	-0.34	8BJ
LY1	0.41	0.62	0.09	0.15		-0.55	0.37	0.32	LY1
PCHP	0.14	-0.75	0.44	-0.63	-0.55		-0.6	0.15	PCHP
PIK	-0.32	0.59	-0.53	0.69	0.37	-0.6		-0.04	PIK
CZ2	0.47	-0.17	0.65	-0.34	0.32	0.15	-0.04		CZ2
	SRJ	WE7	R6N	8BJ	LY1	PCHP	PIK	CZ2

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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

PIK	+ 0.69	8BJ
8BJ	+ 0.65	WE7
CZ2	+ 0.65	R6N
R6N	+ 0.62	SRJ
LY1	+ 0.62	WE7
PIK	+ 0.59	WE7

High negative correlations

8BJ	- 0.81	R6N
PCHP	- 0.75	WE7
PCHP	- 0.63	8BJ
PIK	- 0.6	PCHP
PCHP	- 0.55	LY1
R6N	- 0.54	WE7

Risk-Adjusted Indicators

There is a big difference between UNIV Stock performing well and UNIV HEALTH 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 UNIV HEALTH'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SRJ	1.36	(0.16)	0.00	(0.10)	0.00	0.00	2.10	(2.54)	18.97
WE7	1.62	0.24	0.08	0.73	1.56	(2.20)	3.59	(2.48)	10.84
R6N	0.87	(0.15)	0.00	(4.08)	0.00	0.00	1.79	(1.75)	5.37
8BJ	1.20	0.28	0.19	0.60	0.80	(1.78)	2.70	(1.43)	8.10
LY1	2.40	0.10	0.00	0.46	2.96	(5.09)	5.26	(5.00)	15.26
PCHP	3.23	(0.33)	0.00	(1.03)	0.00	0.00	7.86	(6.03)	26.24
PIK	2.13	0.50	0.12	(1.47)	2.43	(2.67)	5.52	(2.78)	22.07
CZ2	0.99	(0.04)	(0.06)	0.04	1.48	(1.08)	3.10	(2.21)	10.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in UNIV HEALTH 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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