Uber Technologies Correlations

Stocks . USA . 
Stock . Uber Technologies
UBER Stock  USD 92.05  0.08  0.09%   
The current 90-days correlation between Uber Technologies and New Oriental Education is 0.59 (i.e., Very weak diversification). The correlation of Uber Technologies 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.

Uber Technologies Correlation With Market

Good diversification

The correlation between Uber Technologies and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Uber Technologies and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Uber Stock
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Uber Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
To learn how to invest in Uber Stock, please use our How to Invest in Uber Technologies guide.

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Moving against Uber Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Uber Stock performing well and Uber Technologies 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 Uber Technologies' 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.

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