Unipol Gruppo Correlations

UIPN Stock

EUR 11.23 0.06 0.53%

The current 90-days correlation between Unipol Gruppo Finanziario and SBM OFFSHORE is 0.2 (i.e., Modest diversification). The correlation of Unipol Gruppo 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.

Unipol Gruppo Correlation With Market

Significant diversification

The correlation between Unipol Gruppo Finanziario and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unipol Gruppo Finanziario and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Unipol Stock

0.63	ALV	Allianz SE	Pair Corr
0.65	ASG0	ASSGENERALI ADR 12EO	Pair Corr
0.86	PG4	Principal Financial	Pair Corr
0.79	AXJ	Equitable Holdings	Pair Corr
0.7	1OD	IA FINANCIAL P	Pair Corr
0.73	48R	ENSTAR GROUP LTD	Pair Corr
0.64	27J	Impinj Inc	Pair Corr
0.62	27J	Impinj Inc	Pair Corr
0.65	ADH2	Air Canada	Pair Corr
0.71	E908	Lyxor 1	Pair Corr
0.77	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Unipol Stock

0.81	DBPD	Xtrackers ShortDAX	Pair Corr
0.8	CXT	Carmat SA	Pair Corr

Related Correlations Analysis

	IHCB	9B7	UCE	SZL	12P	55O1	TG9	S5H0
IHCB		0.56	0.56	0.09	0.81	0.68	0.27	0.19	IHCB
9B7	0.56		0.31	0.57	0.57	0.88	0.25	0.46	9B7
UCE	0.56	0.31		0.2	0.34	0.28	0.6	0.26	UCE
SZL	0.09	0.57	0.2		0.01	0.45	0.17	0.66	SZL
12P	0.81	0.57	0.34	0.01		0.81	0.14	-0.06	12P
55O1	0.68	0.88	0.28	0.45	0.81		0.13	0.24	55O1
TG9	0.27	0.25	0.6	0.17	0.14	0.13		0.36	TG9
S5H0	0.19	0.46	0.26	0.66	-0.06	0.24	0.36		S5H0
	IHCB	9B7	UCE	SZL	12P	55O1	TG9	S5H0

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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

55O1	+ 0.88	9B7
12P	+ 0.81	IHCB
55O1	+ 0.81	12P
55O1	+ 0.68	IHCB
S5H0	+ 0.66	SZL
TG9	+ 0.6	UCE

High negative correlations

S5H0

- 0.06

12P

Risk-Adjusted Indicators

There is a big difference between Unipol Stock performing well and Unipol Gruppo 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 Unipol Gruppo'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
IHCB	1.11	(0.05)	(0.09)	0.01	1.33	(1.28)	2.22	(2.48)	7.82
9B7	1.87	0.86	0.43	(1.85)	0.63	(2.73)	4.96	(2.33)	35.35
UCE	2.49	0.20	0.01	(0.47)	3.15	(2.82)	4.60	(6.51)	18.95
SZL	2.20	0.04	0.03	0.16	2.46	(2.73)	3.55	(3.20)	30.30
12P	1.09	0.02	(0.03)	0.18	1.27	(1.25)	2.80	(2.39)	10.56
55O1	0.73	0.09	0.01	0.40	0.62	(0.84)	1.84	(1.08)	4.25
TG9	1.61	0.04	(0.03)	0.64	1.93	(2.02)	3.37	(3.28)	11.50
S5H0	1.94	(0.01)	(0.04)	0.08	2.33	(2.57)	4.84	(4.03)	13.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in Unipol Gruppo 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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