Under Armour Correlations

UA Stock

USD 8.76 1.18 11.87%

The current 90-days correlation between Under Armour C and Levi Strauss Co is 0.2 (i.e., Modest diversification). The correlation of Under Armour 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.

Under Armour Correlation With Market

Significant diversification

The correlation between Under Armour C and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Under Armour C and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Under Armour C. 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 Under Stock

0.61	RL	Ralph Lauren Corp	Pair Corr
0.62	KTB	Kontoor Brands	Pair Corr
0.62	PVH	PVH Corp	Pair Corr

Moving against Under Stock

0.42	CRI	Carters	Pair Corr
0.32	DOOO	BRP Inc	Pair Corr
0.54	LIVE	Live Ventures Fiscal Year End 18th of December 2024	Pair Corr
0.49	GV	Visionary Education	Pair Corr

Related Correlations Analysis

	LEVI	COLM	HBI	PVH	VFC	UAA	RL
LEVI		0.34	-0.02	-0.1	-0.09	-0.19	-0.15	LEVI
COLM	0.34		0.15	0.48	0.22	0.18	0.03	COLM
HBI	-0.02	0.15		0.25	0.75	0.79	0.94	HBI
PVH	-0.1	0.48	0.25		0.27	0.54	0.15	PVH
VFC	-0.09	0.22	0.75	0.27		0.52	0.73	VFC
UAA	-0.19	0.18	0.79	0.54	0.52		0.74	UAA
RL	-0.15	0.03	0.94	0.15	0.73	0.74		RL
	LEVI	COLM	HBI	PVH	VFC	UAA	RL

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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

RL	+ 0.94	HBI
UAA	+ 0.79	HBI
VFC	+ 0.75	HBI
RL	+ 0.74	UAA
RL	+ 0.73	VFC
UAA	+ 0.54	PVH

High negative correlations

UAA	- 0.19	LEVI
RL	- 0.15	LEVI
PVH	- 0.1	LEVI
VFC	- 0.09	LEVI
HBI	- 0.02	LEVI

Risk-Adjusted Indicators

There is a big difference between Under Stock performing well and Under Armour 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 Under Armour'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
LEVI	1.48	(0.19)	0.00	(0.05)	0.00	0.00	2.75	(2.83)	11.83
COLM	1.14	(0.03)	(0.08)	0.09	1.53	(1.09)	2.16	(2.36)	6.89
HBI	2.15	0.29	0.12	0.46	1.99	(2.58)	5.63	(4.14)	11.75
PVH	1.38	(0.08)	(0.02)	0.10	1.80	(1.55)	3.18	(3.16)	10.33
VFC	2.85	0.28	0.05	0.78	3.10	(3.11)	7.27	(5.48)	33.97
UAA	2.89	0.36	0.08	0.87	3.16	(3.83)	6.63	(4.57)	15.35
RL	1.25	0.35	0.27	0.52	0.77	(1.52)	3.29	(1.97)	6.74

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