UNSTRUCTURED ALPHAMeasure a portfolio

URA vs CHTR

URA and CHTR clearly differ on 5 of 19 forces. The widest gap is euro: in weeks when the euro rose 2% against the U.S. dollar, URA typically moved −5.3% and CHTR +0.77%.

URACHTRBars: 90% ranges. Hollow: could not be told apart from zero.Same figures in the table below.
Economic forceURAGlobal X Uranium ETFCHTRCharter Communications
Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points−0.34%−2.0% to +1.3%Not distinguishable from zero−1.8%−3.6% to −0.02%Tentative
Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points+5.5%+1.6% to +9.4%Tentative+4.6%+0.48% to +8.7%Tentative
U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2%−4.0%−6.7% to −1.2%Tentative−3.6%−6.0% to −1.1%Tentative
Oil and energyIn weeks when the price of oil rose 10%−0.92%−1.9% to +0.10%Not distinguishable from zero−0.71%−2.2% to +0.83%Not distinguishable from zero
Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points+2.0%−1.0% to +4.9%Not distinguishable from zero+1.4%−3.0% to +5.7%Not distinguishable from zero
Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points+1.5%−1.5% to +4.5%Not distinguishable from zero−3.8%−7.1% to −0.57%Tentative
Market volatilityIn weeks when market volatility (the VIX) rose 5 points+0.22%−1.1% to +1.5%Not distinguishable from zero−1.5%−3.1% to +0.05%Not distinguishable from zero
Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points+0.03%−1.4% to +1.5%Not distinguishable from zero+1.8%−0.25% to +3.8%Not distinguishable from zero
GoldIn weeks when the price of gold rose 5%Clear difference+3.2%+2.1% to +4.3%Clear−0.86%−2.0% to +0.30%Not distinguishable from zero
CopperIn weeks when the price of copper rose 5%+0.82%+0.10% to +1.5%Tentative+0.55%−0.54% to +1.6%Not distinguishable from zero
Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%+0.10%0.00% to +0.19%Tentative−0.02%−0.05% to +0.02%Not distinguishable from zero
BitcoinIn weeks when the price of bitcoin rose 10%+1.3%+0.40% to +2.1%Tentative−0.89%−2.2% to +0.45%Not distinguishable from zero
Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point+0.43%0.00% to +0.85%Tentative+0.88%+0.45% to +1.3%Clear
Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage pointClear difference−0.48%−0.93% to −0.02%Tentative+1.0%+0.59% to +1.4%Clear
MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference+1.0%+0.62% to +1.3%Clear−1.2%−1.8% to −0.63%Clear
EuroIn weeks when the euro rose 2% against the U.S. dollarClear difference−5.3%−7.7% to −3.0%Clear+0.77%−2.2% to +3.7%Not distinguishable from zero
Japanese yenIn weeks when the yen rose 2% against the U.S. dollar−0.78%−1.7% to +0.19%Not distinguishable from zero+0.84%−0.82% to +2.5%Not distinguishable from zero
Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage pointClear difference+0.68%+0.31% to +1.1%Clear−0.34%−0.77% to +0.09%Not distinguishable from zero
ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point−0.24%−0.61% to +0.12%Not distinguishable from zero+0.37%+0.09% to +0.65%Tentative
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.

This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.

Measure URA and CHTR togetherWhat if? Move a force

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Every figure on these pages is one stock at a time. The app measures a whole portfolio: which forces it is exposed to, which holdings cause it, and how sure the reading is. Free, no account for the first report.