Universal Health Correlations

WY8 Stock

EUR 39.80 1.09 2.82%

The current 90-days correlation between Universal Health Realty and Superior Plus Corp is -0.06 (i.e., Good 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

Very weak diversification

The correlation between Universal Health Realty and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Health Realty 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 Realty to buy it.

Moving together with Universal Stock

0.7	WX6	National Health Investors	Pair Corr
0.67	BYRA	BANK RAKYAT IND	Pair Corr
0.62	BYRA	PT Bank Rakyat	Pair Corr

Moving against Universal Stock

0.42	WX4	Omega Healthcare Inv	Pair Corr
0.41	DBPE	Xtrackers LevDAX	Pair Corr
0.37	HCW	Welltower	Pair Corr
0.35	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	SBC	8SP	6NM	2DG	TLX	2GB	TM9	INVN	IUI1	NOH1
SBC		-0.71	-0.32	-0.79	-0.36	0.3	-0.18	0.77	0.75	0.68	SBC
8SP	-0.71		0.65	0.75	0.19	-0.33	0.28	-0.76	-0.86	-0.54	8SP
6NM	-0.32	0.65		0.26	0.25	0.01	0.24	-0.28	-0.44	-0.13	6NM
2DG	-0.79	0.75	0.26		0.04	-0.33	0.19	-0.84	-0.89	-0.71	2DG
TLX	-0.36	0.19	0.25	0.04		-0.18	-0.04	0.0	0.01	-0.24	TLX
2GB	0.3	-0.33	0.01	-0.33	-0.18		-0.01	0.46	0.35	0.55	2GB
TM9	-0.18	0.28	0.24	0.19	-0.04	-0.01		-0.09	-0.28	0.23	TM9
INVN	0.77	-0.76	-0.28	-0.84	0.0	0.46	-0.09		0.87	0.74	INVN
IUI1	0.75	-0.86	-0.44	-0.89	0.01	0.35	-0.28	0.87		0.58	IUI1
NOH1	0.68	-0.54	-0.13	-0.71	-0.24	0.55	0.23	0.74	0.58		NOH1
	SBC	8SP	6NM	2DG	TLX	2GB	TM9	INVN	IUI1	NOH1

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IUI1	+ 0.87	INVN
INVN	+ 0.77	SBC
IUI1	+ 0.75	SBC
2DG	+ 0.75	8SP
NOH1	+ 0.74	INVN
NOH1	+ 0.68	SBC

High negative correlations

IUI1	- 0.89	2DG
IUI1	- 0.86	8SP
INVN	- 0.84	2DG
2DG	- 0.79	SBC
INVN	- 0.76	8SP
NOH1	- 0.71	2DG

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SBC	1.29	0.29	0.09	3.66	1.58	(1.40)	3.45	(3.09)	8.26
8SP	2.05	(0.14)	0.00	0.38	0.00	0.00	3.36	(4.74)	20.22
6NM	1.21	0.10	(0.03)	(0.21)	1.77	(1.29)	2.79	(2.69)	9.64
2DG	4.15	(1.33)	0.00	(2.07)	0.00	0.00	7.14	(8.57)	52.42
TLX	0.97	0.05	(0.06)	13.88	1.13	(1.13)	2.67	(1.64)	7.58
2GB	1.80	(0.03)	(0.04)	0.06	2.19	(2.09)	4.28	(3.67)	13.78
TM9	2.78	(0.05)	0.00	(0.04)	0.00	0.00	5.56	(6.43)	36.50
INVN	2.09	0.36	0.08	(1.50)	2.12	(2.49)	5.61	(4.25)	14.01
IUI1	1.27	0.25	0.13	0.91	1.07	(1.49)	3.28	(1.96)	10.30
NOH1	2.11	0.21	0.08	0.41	1.92	(2.70)	6.61	(3.38)	12.96

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.

Did you try this?

Run Portfolio Dashboard Now

Portfolio Dashboard

Portfolio dashboard that provides centralized access to all your investments

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC