Unifirst Correlations

UNF Stock

USD 157.45 3.83 2.37%

The current 90-days correlation between Unifirst and BrightView Holdings is 0.52 (i.e., Very weak diversification). The correlation of Unifirst 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.

Unifirst Correlation With Market

Poor diversification

The correlation between Unifirst and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Unifirst and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Unifirst Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Unifirst. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more detail on how to invest in Unifirst Stock please use our How to Invest in Unifirst guide.

Moving together with Unifirst Stock

0.79

GOOD

Gladstone Commercial

Pair Corr

Moving against Unifirst Stock

0.6	WIMI	WiMi Hologram Cloud	Pair Corr
0.51	SSRM	SSR Mining	Pair Corr
0.44	603187	Qingdao Hiron Commercial	Pair Corr
0.78	NUVSF	NuVista Energy	Pair Corr
0.7	ATHOF	Athabasca Oil Corp	Pair Corr
0.61	OIA	Invesco Municipal Income	Pair Corr
0.58	GBOOY	Grupo Financiero Banorte	Pair Corr
0.57	UCPA	United Communications	Pair Corr
0.54	CCO	Clear Channel Outdoor	Pair Corr
0.53	GDC	GD Culture Group	Pair Corr
0.52	LQWC	LifeQuest World	Pair Corr
0.49	LSCC	Lattice Semiconductor	Pair Corr
0.45	MSFT	Microsoft	Pair Corr
0.44	REI	Ring Energy	Pair Corr
0.43	26443CAA1	DUKE UNIV HEALTH	Pair Corr
0.43	RVT	Royce Value Closed	Pair Corr
0.39	RBLX	Roblox Corp	Pair Corr
0.37	TEN	Tsakos Energy Navigation	Pair Corr
0.37	PNRG	PrimeEnergy	Pair Corr
0.76	ANKOF	Angkor Resources Corp	Pair Corr
0.74	LAC	Lithium Americas Corp	Pair Corr
0.72	BB	BlackBerry	Pair Corr
0.7	PC	Premium Catering	Pair Corr
0.7	BTE	Baytex Energy Corp	Pair Corr
0.66	CHRS	Coherus BioSciences	Pair Corr

Related Correlations Analysis

	CASS	TLPFF	NTIP	BV	SXI	AIN	TNC	TBI
CASS		0.38	-0.33	0.39	-0.39	0.65	0.14	0.08	CASS
TLPFF	0.38		-0.72	0.83	-0.91	0.82	0.04	0.74	TLPFF
NTIP	-0.33	-0.72		-0.72	0.63	-0.6	-0.13	-0.33	NTIP
BV	0.39	0.83	-0.72		-0.81	0.79	0.17	0.56	BV
SXI	-0.39	-0.91	0.63	-0.81		-0.74	0.2	-0.72	SXI
AIN	0.65	0.82	-0.6	0.79	-0.74		0.16	0.53	AIN
TNC	0.14	0.04	-0.13	0.17	0.2	0.16		-0.08	TNC
TBI	0.08	0.74	-0.33	0.56	-0.72	0.53	-0.08		TBI
	CASS	TLPFF	NTIP	BV	SXI	AIN	TNC	TBI

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

BV	+ 0.83	TLPFF
AIN	+ 0.82	TLPFF
AIN	+ 0.79	BV
TBI	+ 0.74	TLPFF
AIN	+ 0.65	CASS
SXI	+ 0.63	NTIP

High negative correlations

SXI	- 0.91	TLPFF
SXI	- 0.81	BV
AIN	- 0.74	SXI
TBI	- 0.72	SXI
BV	- 0.72	NTIP
NTIP	- 0.72	TLPFF

Risk-Adjusted Indicators

There is a big difference between Unifirst Stock performing well and Unifirst 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 Unifirst'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
CASS	1.03	(0.34)	0.00	(0.17)	0.00	0.00	1.98	(2.20)	6.51
TLPFF	1.80	(0.48)	0.00	(2.53)	0.00	0.00	3.52	(5.15)	20.50
NTIP	2.10	0.45	0.10	(1.61)	2.68	(3.22)	4.96	(2.55)	40.39
BV	1.31	(0.36)	0.00	(0.22)	0.00	0.00	2.24	(2.95)	9.17
SXI	1.76	0.38	0.23	0.45	1.34	(2.23)	4.56	(2.44)	14.03
AIN	1.76	(0.45)	0.00	(0.13)	0.00	0.00	3.38	(2.58)	26.39
TNC	1.28	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.59)	6.56
TBI	2.80	(0.22)	0.00	(0.11)	0.00	0.00	6.15	(4.97)	18.62

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