Universal Health Correlations

Stocks Germany . 
Stock . Universal Health Services
UHS Stock  EUR 188.00  1.00  0.53%   
The current 90-days correlation between Universal Health Services and INSURANCE AUST GRP is 0.12 (i.e., Average diversification). The correlation of Universal 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.

Universal Health Correlation With Market

Significant diversification

The correlation between Universal Health Services and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Health Services and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Universal 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 Universal 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 Universal 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 Universal Health Services to buy it.

Moving together with Universal Stock

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Moving against Universal Stock

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Related Correlations Analysis

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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   
AF4
+ 0.99
AF4
AF4
+ 0.83
NRM
I8M
+ 0.82
I43
AF4
+ 0.8
NRM
S49
+ 0.76
0UI
AF4
+ 0.76
0UI
  
High negative correlations   
I8M
- 0.43
EEW
EEW
- 0.3
I43
NRM
- 0.19
I43
AF4
- 0.12
EEW
AF4
- 0.09
EEW

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal 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 Universal 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Universal 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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Universal Health Corporate Management

Elected by the shareholders, the Universal Health's board of directors comprises two types of representatives: Universal Health inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Universal. The board's role is to monitor Universal Health's management team and ensure that shareholders' interests are well served. Universal Health's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Universal Health's outside directors are responsible for providing unbiased perspectives on the board's policies.
Lynda SmirzChief VPProfile
Matthew PetersonEx DivisionProfile
Michael NelsonVP ServicesProfile
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