Union Pacific Correlations
| UNP Stock | EUR 221.25 2.00 0.91% |
The current 90-days correlation between Union Pacific and ZINC MEDIA GR is 0.02 (i.e., Significant diversification). The correlation of Union Pacific 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.
Union Pacific Correlation With Market
Very weak diversification
The correlation between Union Pacific and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Union Pacific and DJI in the same portfolio, assuming nothing else is changed.
Union |
The ability to find closely correlated positions to Union Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Union Pacific 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 Union Pacific - 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 Union Pacific to buy it.
Moving together with Union Stock
| 0.67 | 6MK | Merck | PairCorr |
| 0.73 | TOTB | TotalEnergies SE | PairCorr |
| 0.69 | WWR | Woolworths Group Earnings Call This Week | PairCorr |
| 0.68 | ENR | Siemens Energy AG | PairCorr |
| 0.64 | TWSA | TKH Group NV | PairCorr |
Moving against Union Stock
| 0.68 | IB5A | I CABLE M | PairCorr |
| 0.61 | DAP | DANAHER (DAPSG) | PairCorr |
| 0.58 | AMD | Advanced Micro Devices | PairCorr |
| 0.56 | MBJ | MBIA | PairCorr |
| 0.47 | ABL | Abbott Laboratories | PairCorr |
| 0.42 | 0S6 | Cerence | PairCorr |
| 0.38 | BT3 | BIOTIME | PairCorr |
| 0.34 | HK2C | Hong Kong Exchanges | PairCorr |
| 0.32 | MBJ | MBIA Inc | PairCorr |
| 0.47 | AJW | ANGES MG | PairCorr |
| 0.33 | 4AH1 | PT Ace Hardware | PairCorr |
Related Correlations Analysis
| -0.33 | -0.32 | -0.28 | -0.04 | 0.56 | 9YM | ||
| -0.33 | 0.66 | -0.14 | 0.33 | -0.58 | UTDI | ||
| -0.32 | 0.66 | -0.38 | -0.1 | -0.41 | SJY | ||
| -0.28 | -0.14 | -0.38 | 0.56 | -0.18 | MQ2 | ||
| -0.04 | 0.33 | -0.1 | 0.56 | -0.22 | HPI2 | ||
| 0.56 | -0.58 | -0.41 | -0.18 | -0.22 | YE42 | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Union Stock performing well and Union Pacific 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 Union Pacific'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9YM | 2.61 | (0.62) | 0.00 | (0.66) | 0.00 | 4.62 | 22.80 | |||
| UTDI | 1.40 | (0.02) | (0.01) | 0.02 | 2.05 | 3.01 | 9.92 | |||
| SJY | 2.23 | 0.43 | 0.07 | 33.86 | 2.06 | 6.67 | 36.51 | |||
| MQ2 | 2.30 | 0.46 | 0.15 | (0.93) | 2.22 | 6.00 | 17.12 | |||
| HPI2 | 1.25 | (0.14) | 0.00 | (0.71) | 0.00 | 2.13 | 11.77 | |||
| YE42 | 1.34 | (0.10) | 0.00 | (0.16) | 0.00 | 3.92 | 30.36 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Union Pacific 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.Did you try this?
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