UNSTRUCTURED ALPHAMeasure a portfolio

URA vs WYNN

URA and WYNN clearly differ on 5 of 19 forces. The widest gap is gold: in weeks when the price of gold rose 5%, URA typically moved +3.2% and WYNN −0.30%.

URAWYNNBars: 90% ranges. Hollow: could not be told apart from zero.Same figures in the table below.
Economic forceURAGlobal X Uranium ETFWYNNWynn Resorts
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−0.14%−1.7% to +1.4%Not distinguishable from zero
Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points+5.5%+1.6% to +9.4%Tentative+5.4%+2.0% to +8.9%Clear
U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2%−4.0%−6.7% to −1.2%Tentative−1.6%−3.5% to +0.25%Not distinguishable from zero
Oil and energyIn weeks when the price of oil rose 10%−0.92%−1.9% to +0.10%Not distinguishable from zero−0.70%−1.6% to +0.16%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+1.5%−2.3% to +5.2%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−2.0%−4.8% to +0.81%Not distinguishable from zero
Market volatilityIn weeks when market volatility (the VIX) rose 5 points+0.22%−1.1% to +1.5%Not distinguishable from zero−0.65%−2.0% to +0.74%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−0.62%−2.2% to +0.93%Not distinguishable from zero
GoldIn weeks when the price of gold rose 5%Clear difference+3.2%+2.1% to +4.3%Clear−0.30%−1.2% to +0.57%Not distinguishable from zero
CopperIn weeks when the price of copper rose 5%+0.82%+0.10% to +1.5%Tentative+0.01%−0.91% to +0.93%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%Tentative0.00%−0.03% to +0.03%Not distinguishable from zero
BitcoinIn weeks when the price of bitcoin rose 10%Clear difference+1.3%+0.40% to +2.1%Tentative−0.72%−1.6% to +0.21%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+0.11%−0.34% to +0.55%Not distinguishable from zero
Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage pointClear difference−0.48%−0.93% to −0.02%Tentative+0.51%+0.23% to +0.79%Tentative
MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference+1.0%+0.62% to +1.3%Clear−0.13%−0.54% to +0.27%Not distinguishable from zero
EuroIn weeks when the euro rose 2% against the U.S. dollar−5.3%−7.7% to −3.0%Clear−0.66%−3.8% to +2.5%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−1.6%−2.6% to −0.54%Tentative
Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point+0.68%+0.31% to +1.1%Clear+0.52%−0.08% to +1.1%Not distinguishable from zero
ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage pointClear difference−0.24%−0.61% to +0.12%Not distinguishable from zero+0.55%+0.18% to +0.93%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 WYNN togetherWhat if? Move a force

Your portfolio, measured the same way

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.