Unifirst Corp Correlations

UNF
 Stock
  

USD 192.06  0.23  0.12%   

The correlation of Unifirst Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Unifirst Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Unifirst Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Unifirst Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Unifirst Corp 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 Unifirst Corp - 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 Unifirst Corp to buy it.

Moving together with Unifirst Corp

+0.71TRIThomson Reuters CorpPairCorr
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+0.63WOLTFWolters Kluwer NVPairCorr
+0.7WTKWYWolters Kluwer NPairCorr
+0.74SDXOFSodexoPairCorr
+0.66SDXAYSodexo ADRPairCorr
+0.73RKLIFRentokil Initial 2005PairCorr
+0.79SIRISirius XM HoldingsPairCorr
+0.68FFord Motor Potential GrowthPairCorr
+0.82RIGTransoceanPairCorr

Moving against Unifirst Corp

-0.53DNAGinkgo Bioworks HldgsPairCorr

Related Correlations

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Our tools can tell you how much better you can do entering a position in Unifirst Corp 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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Unifirst Corp Corporate Directors

Unifirst Corp corporate directors refer to members of an Unifirst Corp board of directors. The board of directors generally takes responsibility for the Unifirst Corp's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Unifirst Corp's board members must vote for the resolution. The Unifirst Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Phillip Cohen - Independent DirectorProfile
Thomas Postek - Independent DirectorProfile
Donald Evans - Lead Independent DirectorProfile
Michael Iandoli - Independent DirectorProfile

Invested in Unifirst Corp?

The danger of trading Unifirst Corp is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Unifirst Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Unifirst Corp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Unifirst Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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Is Unifirst Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Unifirst Corp. If investors know Unifirst will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Unifirst Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.23) 
Market Capitalization
3.6 B
Quarterly Revenue Growth YOY
0.11
Return On Assets
0.0349
Return On Equity
0.0546
The market value of Unifirst Corp is measured differently than its book value, which is the value of Unifirst that is recorded on the company's balance sheet. Investors also form their own opinion of Unifirst Corp's value that differs from its market value or its book value, called intrinsic value, which is Unifirst Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Unifirst Corp's market value can be influenced by many factors that don't directly affect Unifirst Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Unifirst Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Unifirst Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Unifirst Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.