UnitedHealth Group Correlations

UNH Stock

USD 288.07 4.42 1.51%

The current 90-days correlation between UnitedHealth Group and Cigna Corp is 0.33 (i.e., Weak diversification). The correlation of UnitedHealth Group 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.

UnitedHealth Group Correlation With Market

Weak diversification

The correlation between UnitedHealth Group Incorporate and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UnitedHealth Group Incorporate and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with UnitedHealth Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in UnitedHealth Group Incorporated. 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.

Moving together with UnitedHealth Stock

0.62	CI	Cigna Corp	Pair Corr
0.77	VERO	Venus Concept	Pair Corr
0.75	ELAB	Elevai Labs, Common	Pair Corr
0.69	ELMD	Electromed	Pair Corr
0.7	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.76	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.67	MNDR	Mobile health Network	Pair Corr

Moving against UnitedHealth Stock

0.85	OM	Outset Medical	Pair Corr
0.85	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.8	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.79	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.78	LH	Laboratory Earnings Call This Week	Pair Corr
0.76	DH	Definitive Healthcare	Pair Corr
0.73	ABT	Abbott Laboratories	Pair Corr
0.71	VEEV	Veeva Systems Class	Pair Corr
0.58	FIGS	Figs Inc	Pair Corr
0.54	MBOT	Microbot Medical	Pair Corr
0.48	EHAB	Enhabit	Pair Corr
0.41	VNRX	Volitionrx	Pair Corr
0.4	MD	Mednax Inc	Pair Corr
0.34	DOCS	Doximity	Pair Corr
0.32	EUDAW	EUDA Health Holdings	Pair Corr
0.79	NEUE	NeueHealth	Pair Corr
0.76	NAKA	Kindly MD, Symbol Change	Pair Corr
0.73	A	Agilent Technologies	Pair Corr
0.62	MHUA	Meihua International	Pair Corr
0.54	MDAI	Spectral AI	Pair Corr
0.54	STRM	Streamline Health	Pair Corr
0.54	VANI	Vivani Medical	Pair Corr
0.46	MODV	ModivCare	Pair Corr
0.34	DMAC	DiaMedica Therapeutics	Pair Corr

Related Correlations Analysis

	CI	HUM	ELV	CNC	MOH	CVS	ALHC
CI		0.75	0.75	0.51	0.58	0.59	0.61	CI
HUM	0.75		0.82	0.46	0.58	0.57	0.84	HUM
ELV	0.75	0.82		0.85	0.9	0.26	0.88	ELV
CNC	0.51	0.46	0.85		0.98	-0.02	0.63	CNC
MOH	0.58	0.58	0.9	0.98		0.04	0.71	MOH
CVS	0.59	0.57	0.26	-0.02	0.04		0.21	CVS
ALHC	0.61	0.84	0.88	0.63	0.71	0.21		ALHC
	CI	HUM	ELV	CNC	MOH	CVS	ALHC

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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

MOH	+ 0.98	CNC
MOH	+ 0.9	ELV
ALHC	+ 0.88	ELV
CNC	+ 0.85	ELV
ALHC	+ 0.84	HUM
ELV	+ 0.82	HUM

High negative correlations

CVS

- 0.02

CNC

Risk-Adjusted Indicators

There is a big difference between UnitedHealth Stock performing well and UnitedHealth Group 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 UnitedHealth Group'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CI	1.01	(0.15)	(0.27)	1.82	(2.43)	9.10
HUM	1.86	(0.57)	(0.24)	3.31	(7.02)	14.77
ELV	1.62	(0.52)	(0.28)	2.64	(3.90)	15.70
CNC	2.26	(1.11)	(0.71)	3.14	(4.43)	45.80
MOH	2.06	(0.85)	(0.49)	3.38	(5.26)	28.28
CVS	1.29	(0.18)	(0.19)	2.58	(3.14)	10.76
ALHC	2.18	(0.66)	(0.90)	4.34	(5.48)	11.60

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