Unifirst Correlations

UNF Stock

USD 173.61 1.81 1.03%

The current 90-days correlation between Unifirst and BrightView Holdings is -0.23 (i.e., Very good 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

Good diversification

The correlation between Unifirst and DJI is -0.08 (i.e., Good 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 board of governors.

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

Moving together with Unifirst Stock

0.66	EVGOW	EVgo Equity Warrants	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr
0.81	FC	Franklin Covey	Pair Corr

Moving against Unifirst Stock

0.38	VIRC	Virco Manufacturing	Pair Corr
0.62	MG	Mistras Group Earnings Call This Week	Pair Corr
0.46	HI	Hillenbrand	Pair Corr

Related Correlations Analysis

	CASS	TLPFF	NTIP	BV	SXI	AIN	TNC	TBI
CASS		-0.22	0.25	0.64	0.8	0.83	0.91	0.65	CASS
TLPFF	-0.22		-0.15	-0.14	-0.21	-0.32	-0.23	-0.18	TLPFF
NTIP	0.25	-0.15		0.08	0.21	0.3	0.42	0.28	NTIP
BV	0.64	-0.14	0.08		0.68	0.63	0.56	0.63	BV
SXI	0.8	-0.21	0.21	0.68		0.75	0.79	0.67	SXI
AIN	0.83	-0.32	0.3	0.63	0.75		0.92	0.78	AIN
TNC	0.91	-0.23	0.42	0.56	0.79	0.92		0.73	TNC
TBI	0.65	-0.18	0.28	0.63	0.67	0.78	0.73		TBI
	CASS	TLPFF	NTIP	BV	SXI	AIN	TNC	TBI

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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

TNC	+ 0.92	AIN
TNC	+ 0.91	CASS
AIN	+ 0.83	CASS
SXI	+ 0.8	CASS
TNC	+ 0.79	SXI
TBI	+ 0.78	AIN

High negative correlations

AIN	- 0.32	TLPFF
TNC	- 0.23	TLPFF
TLPFF	- 0.22	CASS
SXI	- 0.21	TLPFF
TBI	- 0.18	TLPFF
NTIP	- 0.15	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	1.02	0.03	0.00	0.17	1.15	(1.15)	2.50	(1.70)	8.28
TLPFF	2.07	0.09	(0.01)	(0.39)	3.43	(3.50)	4.42	(7.94)	19.15
NTIP	1.78	0.07	0.02	0.22	2.39	(1.93)	4.80	(3.94)	11.09
BV	1.56	0.13	0.05	0.27	2.16	(1.70)	3.61	(2.54)	18.55
SXI	1.62	0.18	0.01	(1.20)	1.75	(1.73)	3.09	(3.05)	12.94
AIN	1.22	(0.03)	(0.01)	0.11	1.66	(1.16)	3.02	(2.45)	9.44
TNC	1.39	0.00	0.03	0.14	1.65	(1.40)	3.04	(2.58)	9.34
TBI	3.07	0.82	0.18	(4.46)	2.98	(3.32)	7.41	(4.03)	24.28

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