United Utilities Correlations
| UUGWF Stock | | | USD 15.74 0.00 0.00% |
The current 90-days correlation between United Utilities and American Energy Partners is -0.14 (i.e., Good diversification). The correlation of United Utilities 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 Utilities Correlation With Market
Significant diversification
The correlation between United Utilities Group and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Utilities Group and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to United Utilities 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 Utilities 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 Utilities - 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 Utilities Group to buy it.
Moving together with United Pink Sheet
Moving against United Pink Sheet
Related Correlations Analysis
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 | | High negative correlations | SREMF | | PWCO | | PWCO | | CDZI | | CDZI | | AEPT | | SREMF | | AEPT |
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Risk-Adjusted IndicatorsThere is a big difference between United Pink Sheet performing well and United Utilities 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 Utilities' 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.
Be your own money manager
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United Utilities Corporate Management