United Breweries Correlations

UBL Stock

2,003 21.00 1.04%

The current 90-days correlation between United Breweries and Fertilizers and Chemicals is 0.15 (i.e., Average diversification). The correlation of United Breweries 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.

United Breweries Correlation With Market

Very good diversification

The correlation between United Breweries Limited and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Breweries Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to United Breweries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace United Breweries 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 United Breweries - 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 United Breweries Limited to buy it.

Moving against United Stock

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0.71	SUZLON	Suzlon Energy Limited Earnings Call This Week	Pair Corr
0.71	NSLNISP	NMDC Steel Limited	Pair Corr
0.7	ICICIGI	ICICI Lombard General	Pair Corr
0.69	DELTAMAGNT	Delta Manufacturing	Pair Corr
0.65	GNFC	Gujarat Narmada Valley	Pair Corr
0.65	MANINFRA	Man Infraconstruction	Pair Corr
0.61	MEDPLUS	Medplus Health Services	Pair Corr
0.57	MRF	MRF Limited	Pair Corr
0.56	YESBANK	Yes Bank Limited Earnings Call Today	Pair Corr
0.55	FAIRCHEMOR	Fairchem Organics	Pair Corr
0.48	NH	Narayana Hrudayalaya	Pair Corr
0.47	SGIL	Synergy Green Industries	Pair Corr
0.45	IOC	Indian Oil	Pair Corr
0.37	BYKE	Byke Hospitality	Pair Corr
0.36	IOB	Indian Overseas Bank Earnings Call This Week	Pair Corr
0.89	DYCL	Dynamic Cables Split	Pair Corr
0.89	MEGASTAR	Megastar Foods	Pair Corr
0.83	SAKAR	Sakar Healthcare	Pair Corr
0.8	AMRUTANJAN	Amrutanjan Health Care	Pair Corr
0.8	SAIL	Steel Authority	Pair Corr
0.8	DEEPAKFERT	Deepak Fertilizers and	Pair Corr
0.77	NETWORK18	Network18 Media Inve	Pair Corr
0.77	RIIL	Reliance Industrial	Pair Corr
0.75	DLF	DLF Limited Earnings Call This Week	Pair Corr
0.74	HONAUT	Honeywell Automation	Pair Corr
0.71	LLOYDSENT	Lloyds Enterprises	Pair Corr
0.69	CIEINDIA	CIE Automotive India	Pair Corr
0.68	BANKPSU	BANKPSU	Pair Corr
0.68	EMBASSY-RR	Embassy Office Parks	Pair Corr
0.65	SONATSOFTW	Sonata Software	Pair Corr
0.53	STARHEALTH	Star Health	Pair Corr

Related Correlations Analysis

	COFFEEDAY	VINYLINDIA	FACT	TCI	MANALIPETC	POCL	CHEMCON
COFFEEDAY		0.51	0.64	0.49	0.74	0.43	0.23	COFFEEDAY
VINYLINDIA	0.51		0.85	0.64	0.6	0.37	0.28	VINYLINDIA
FACT	0.64	0.85		0.43	0.59	0.06	0.13	FACT
TCI	0.49	0.64	0.43		0.58	0.65	0.51	TCI
MANALIPETC	0.74	0.6	0.59	0.58		0.57	0.24	MANALIPETC
POCL	0.43	0.37	0.06	0.65	0.57		0.45	POCL
CHEMCON	0.23	0.28	0.13	0.51	0.24	0.45		CHEMCON
	COFFEEDAY	VINYLINDIA	FACT	TCI	MANALIPETC	POCL	CHEMCON

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Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Breweries 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 United Breweries' 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
COFFEEDAY	2.74	0.47	0.16	0.82	2.29	(3.10)	9.56	(3.82)	14.28
VINYLINDIA	1.18	0.14	0.02	1.23	1.27	(1.37)	3.81	(1.91)	14.41
FACT	2.00	0.57	0.24	5.97	1.52	(2.62)	4.63	(2.83)	24.78
TCI	1.19	0.15	0.05	0.55	1.17	(1.29)	2.72	(1.97)	10.50
MANALIPETC	2.22	0.59	0.21	(5.70)	1.88	(2.87)	6.92	(3.10)	14.50
POCL	2.47	0.44	0.12	5.06	2.37	(2.90)	5.50	(5.08)	15.09
CHEMCON	1.61	0.34	0.10	(1.09)	1.44	(2.01)	5.83	(2.34)	13.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Breweries 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.

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