U Power Correlations

Stocks . USA . 
Stock . U Power Limited
UCAR Stock   3.81  0.05  1.33%   
The current 90-days correlation between U Power Limited and Jiuzi Holdings is -0.03 (i.e., Good diversification). The correlation of U Power 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.

U Power Correlation With Market

Significant diversification

The correlation between U Power Limited and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding U Power Limited and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in U Power Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with UCAR Stock

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  0.73FL Foot LockerPairCorr
  0.87JL J Long GroupPairCorr
  0.77LE Lands EndPairCorr
  0.68YJ Yunji IncPairCorr
  0.69DLTH Duluth HoldingsPairCorr
  0.75VIPS Vipshop Holdings Sell-off TrendPairCorr
  0.81EPSM Epsium EnterprisePairCorr
  0.7ANF Abercrombie FitchPairCorr
  0.87BKE Buckle IncPairCorr
  0.61FND Floor Decor HoldingsPairCorr
  0.75GES Guess IncPairCorr
  0.74HVT Haverty Furniture Earnings Call Next WeekPairCorr
  0.85GRPN GrouponPairCorr

Moving against UCAR Stock

  0.51JD JD Inc Adr Aggressive PushPairCorr
  0.67LVLU Lulus Fashion Lounge Downward RallyPairCorr
  0.62AEO American Eagle Outfitters Sell-off TrendPairCorr
  0.61CAL ContinentalPairCorr
  0.55TJX TJX CompaniesPairCorr
  0.37JILL JJill IncPairCorr
  0.81CURV Torrid HoldingsPairCorr
  0.76MUSA Murphy USAPairCorr
  0.68ROST Ross StoresPairCorr
  0.57PLCE Childrens PlacePairCorr

Related Correlations Analysis

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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   
WLGS
+ 0.75
SDA
WLGS
+ 0.69
HUDI
HUDI
+ 0.68
SDA
WLGS
+ 0.66
JZXN
WLGS
+ 0.63
CXAI
GDC
+ 0.61
CVNA
  
High negative correlations   
WLGS
- 0.79
GDC
GDC
- 0.78
SDA
CVNA
- 0.77
VRM
TOP
- 0.7
VRM
HUDI
- 0.6
GDC
GDC
- 0.59
JZXN

Risk-Adjusted Indicators

There is a big difference between UCAR Stock performing well and U Power 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 U Power'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.

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