Uber Technologies Correlations

UBER Stock

USD 99.28 1.48 1.51%

The current 90-days correlation between Uber Technologies and Shopify is 0.11 (i.e., Average 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

Average diversification

The correlation between Uber Technologies and DJI is 0.13 (i.e., Average 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 various price indices.

To learn how to invest in Uber Stock, please use our How to Invest in Uber Technologies guide.

Moving together with Uber Stock

0.64	WF	Woori Financial Group	Pair Corr
0.73	EONR	EON Resources	Pair Corr
0.7	WAFU	Wah Fu Education	Pair Corr
0.67	BMEZ	BlackRock Health Sciences	Pair Corr
0.71	RR	Richtech Robotics Class Trending	Pair Corr
0.65	SSVFF	Southern Silver Expl	Pair Corr

Moving against Uber Stock

0.56	PBCRY	Bank Central Asia	Pair Corr
0.52	PBCRF	PT Bank Central	Pair Corr
0.46	PPERY	Bank Mandiri Persero	Pair Corr
0.34	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	ZM	SNOW	WDAY	AI	SHOP	INTU	CRM	TTD
ZM		0.63	0.36	-0.55	0.46	-0.72	-0.19	-0.65	ZM
SNOW	0.63		0.55	-0.09	0.26	-0.27	0.14	-0.16	SNOW
WDAY	0.36	0.55		0.17	0.0	0.14	0.39	0.03	WDAY
AI	-0.55	-0.09	0.17		-0.74	0.84	0.75	0.87	AI
SHOP	0.46	0.26	0.0	-0.74		-0.7	-0.78	-0.73	SHOP
INTU	-0.72	-0.27	0.14	0.84	-0.7		0.65	0.91	INTU
CRM	-0.19	0.14	0.39	0.75	-0.78	0.65		0.71	CRM
TTD	-0.65	-0.16	0.03	0.87	-0.73	0.91	0.71		TTD
	ZM	SNOW	WDAY	AI	SHOP	INTU	CRM	TTD

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

TTD	+ 0.91	INTU
TTD	+ 0.87	AI
INTU	+ 0.84	AI
CRM	+ 0.75	AI
TTD	+ 0.71	CRM
CRM	+ 0.65	INTU

High negative correlations

CRM	- 0.78	SHOP
SHOP	- 0.74	AI
TTD	- 0.73	SHOP
INTU	- 0.72	ZM
INTU	- 0.7	SHOP
TTD	- 0.65	ZM

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ZM	1.36	(0.08)	(0.01)	0.03	1.63	(1.47)	2.05	(3.01)	15.83
SNOW	2.00	0.15	0.06	0.23	2.34	(2.27)	3.77	(3.37)	24.62
WDAY	1.48	(0.08)	(0.04)	0.00	2.03	(1.45)	3.06	(3.54)	10.79
AI	2.71	(0.63)	0.00	(0.11)	0.00	0.00	5.04	(5.08)	29.73
SHOP	2.29	0.49	0.28	0.30	1.68	(2.91)	5.63	(3.61)	26.54
INTU	1.08	(0.29)	0.00	(0.59)	0.00	0.00	1.75	(2.69)	7.36
CRM	1.36	(0.26)	0.00	(0.18)	0.00	0.00	2.32	(3.30)	8.74
TTD	2.62	(0.32)	0.00	(0.79)	0.00	0.00	5.15	(4.44)	45.19

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