United Express Correlations

The correlation of United Express 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. If the correlation is 0, the equities are not correlated; they are entirely random.

The ability to find closely correlated positions to United Express 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 Express 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 Express - 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 Express to buy it.

Moving together with United Pink Sheet

0.63	T	ATT Inc Earnings Call This Week	Pair Corr
0.7	HPQ	HP Inc	Pair Corr

Moving against United Pink Sheet

0.82	BA	Boeing	Pair Corr
0.78	ARCB	ArcBest Corp Earnings Call Tomorrow	Pair Corr
0.75	ODFL	Old Dominion Freight Earnings Call This Week	Pair Corr
0.75	TFII	TFI International	Pair Corr
0.74	WERN	Werner Enterprises Earnings Call This Week	Pair Corr
0.72	KNX	Knight Transportation	Pair Corr
0.72	SNDR	Schneider National	Pair Corr
0.67	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.66	SAIA	Saia Inc	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.51	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.47	INTC	Intel	Pair Corr
0.43	MRK	Merck Company Earnings Call This Week	Pair Corr
0.34	HD	Home Depot	Pair Corr

Related Correlations Analysis

	CVAT	NXTN	FBRKF	IAALF	TIMNF	MRCR	COLDF	OLNCF	BRRN
CVAT		-0.6	0.44	-0.5	0.0	0.39	0.0	0.74	0.49	CVAT
NXTN	-0.6		0.02	0.21	0.0	0.05	0.0	-0.62	-0.3	NXTN
FBRKF	0.44	0.02		-0.2	0.0	0.3	0.0	0.22	0.11	FBRKF
IAALF	-0.5	0.21	-0.2		0.0	-0.33	0.0	-0.25	-0.74	IAALF
TIMNF	0.0	0.0	0.0	0.0		0.0	-1.0	0.0	0.0	TIMNF
MRCR	0.39	0.05	0.3	-0.33	0.0		0.0	0.45	-0.08	MRCR
COLDF	0.0	0.0	0.0	0.0	-1.0	0.0		0.0	0.0	COLDF
OLNCF	0.74	-0.62	0.22	-0.25	0.0	0.45	0.0		0.2	OLNCF
BRRN	0.49	-0.3	0.11	-0.74	0.0	-0.08	0.0	0.2		BRRN
	CVAT	NXTN	FBRKF	IAALF	TIMNF	MRCR	COLDF	OLNCF	BRRN

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

OLNCF	+ 0.74	CVAT
BRRN	+ 0.49	CVAT
OLNCF	+ 0.45	MRCR
FBRKF	+ 0.44	CVAT
MRCR	+ 0.39	CVAT
MRCR	+ 0.3	FBRKF

High negative correlations

COLDF	- 1.0	TIMNF
BRRN	- 0.74	IAALF
OLNCF	- 0.62	NXTN
NXTN	- 0.6	CVAT
IAALF	- 0.5	CVAT
MRCR	- 0.33	IAALF

Risk-Adjusted Indicators

There is a big difference between United Pink Sheet performing well and United Express 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 Express' 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
CVAT	6.85	(0.90)	0.00	1.54	0.00	0.00	25.00	(20.00)	57.50
NXTN	3.59	1.59	0.26	6.12	1.37	(13.73)	12.36	(2.00)	33.23
FBRKF	18.60	4.89	0.16	2.42	16.95	(36.36)	48.15	(34.88)	258.46
IAALF	3.36	0.03	0.00	0.12	4.40	(8.60)	8.33	(8.33)	27.62
TIMNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRCR	3.48	1.50	0.33	(0.71)	1.56	(7.56)	4.84	(4.26)	65.40
COLDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OLNCF	2.75	(0.21)	0.00	0.78	0.00	0.00	5.79	(6.67)	20.44
BRRN	0.72	0.18	0.00	(0.20)	0.00	0.00	0.89	0.00	32.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Express without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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