Unifirst Correlations

UNF Stock

USD 204.58 4.35 2.17%

The current 90-days correlation between Unifirst and AZZ Incorporated is 0.55 (i.e., Very weak diversification). The correlation of Unifirst 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.

Unifirst Correlation With Market

Poor diversification

The correlation between Unifirst and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unifirst 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 Unifirst. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more detail on how to invest in Unifirst Stock please use our How to Invest in Unifirst guide.

Moving together with Unifirst Stock

0.67	DRVN	Driven Brands Holdings	Pair Corr
0.63	KAR	KAR Auction Services	Pair Corr
0.61	CNDT	Conduent	Pair Corr
0.74	CSGS	CSG Systems International	Pair Corr
0.68	R	Ryder System	Pair Corr
0.63	AL	Air Lease	Pair Corr
0.68	CR	Crane Company	Pair Corr

Moving against Unifirst Stock

0.45	PFMT	Performant Financial	Pair Corr
0.34	WHLM	Wilhelmina	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	RR	Richtech Robotics Class	Pair Corr

Related Correlations Analysis

	AZZ	PFSW	BV	SP	MMS	NTIP	FA	CVEO	DPUI
AZZ		0.33	0.42	0.41	-0.38	-0.17	-0.08	-0.54	-0.22	AZZ
PFSW	0.33		0.59	0.64	-0.49	-0.6	-0.66	-0.7	0.17	PFSW
BV	0.42	0.59		0.62	0.01	-0.65	-0.24	-0.39	0.05	BV
SP	0.41	0.64	0.62		-0.42	-0.79	-0.36	-0.65	0.02	SP
MMS	-0.38	-0.49	0.01	-0.42		0.2	0.52	0.65	0.04	MMS
NTIP	-0.17	-0.6	-0.65	-0.79	0.2		0.33	0.48	-0.05	NTIP
FA	-0.08	-0.66	-0.24	-0.36	0.52	0.33		0.62	-0.23	FA
CVEO	-0.54	-0.7	-0.39	-0.65	0.65	0.48	0.62		0.1	CVEO
DPUI	-0.22	0.17	0.05	0.02	0.04	-0.05	-0.23	0.1		DPUI
	AZZ	PFSW	BV	SP	MMS	NTIP	FA	CVEO	DPUI

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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

CVEO	+ 0.65	MMS
SP	+ 0.64	PFSW
SP	+ 0.62	BV
CVEO	+ 0.62	FA
BV	+ 0.59	PFSW
FA	+ 0.52	MMS

High negative correlations

NTIP	- 0.79	SP
CVEO	- 0.7	PFSW
FA	- 0.66	PFSW
CVEO	- 0.65	SP
NTIP	- 0.65	BV
NTIP	- 0.6	PFSW

Risk-Adjusted Indicators

There is a big difference between Unifirst Stock performing well and Unifirst 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 Unifirst'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
AZZ	1.76	0.04	0.09	0.14	1.86	(2.01)	4.18	(2.60)	11.68
PFSW	2.08	0.27	0.02	(0.32)	2.81	(2.29)	5.84	(5.09)	17.10
BV	1.65	(0.05)	0.02	0.09	2.70	(1.90)	3.55	(2.88)	19.91
SP	1.24	0.25	0.07	(0.64)	1.17	(1.38)	3.66	(1.81)	7.05
MMS	1.11	(0.38)	0.00	(0.54)	0.00	0.00	1.76	(2.50)	10.19
NTIP	1.92	(0.12)	0.00	(0.31)	0.00	0.00	3.88	(4.37)	32.25
FA	1.29	(0.07)	(0.04)	0.05	1.57	(1.39)	2.96	(3.01)	9.66
CVEO	1.40	(0.23)	0.00	(0.10)	0.00	0.00	2.24	(3.21)	11.81
DPUI	12.15	1.78	0.05	(0.45)	12.23	(37.88)	33.33	(25.00)	125.00

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