Union Semiconductor Correlations

688403 Stock

9.20 0.57 5.83%

The current 90-days correlation between Union Semiconductor and Lutian Machinery Co is 0.59 (i.e., Very weak diversification). The correlation of Union Semiconductor 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.

Union Semiconductor Correlation With Market

Good diversification

The correlation between Union Semiconductor Co and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Union Semiconductor Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Union Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Union Semiconductor 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 Union Semiconductor - 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 Union Semiconductor Co to buy it.

Moving together with Union Stock

0.77	601658	Postal Savings Bank	Pair Corr
0.88	601728	China Telecom Corp	Pair Corr

Moving against Union Stock

0.35

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	605259	001289	603201	601857	601988	600236	605198	600025	601998	601298
605259		0.74	0.93	-0.26	0.2	-0.37	0.93	-0.75	0.58	-0.28	605259
001289	0.74		0.81	0.15	0.37	0.04	0.75	-0.31	0.7	0.19	001289
603201	0.93	0.81		-0.26	0.14	-0.37	0.88	-0.69	0.54	-0.24	603201
601857	-0.26	0.15	-0.26		0.62	0.76	-0.09	0.72	0.47	0.78	601857
601988	0.2	0.37	0.14	0.62		0.31	0.29	0.16	0.82	0.45	601988
600236	-0.37	0.04	-0.37	0.76	0.31		-0.17	0.84	0.24	0.72	600236
605198	0.93	0.75	0.88	-0.09	0.29	-0.17		-0.58	0.7	-0.19	605198
600025	-0.75	-0.31	-0.69	0.72	0.16	0.84	-0.58		-0.09	0.69	600025
601998	0.58	0.7	0.54	0.47	0.82	0.24	0.7	-0.09		0.22	601998
601298	-0.28	0.19	-0.24	0.78	0.45	0.72	-0.19	0.69	0.22		601298
	605259	001289	603201	601857	601988	600236	605198	600025	601998	601298

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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

603201	+ 0.93	605259
605198	+ 0.93	605259
605198	+ 0.88	603201
600025	+ 0.84	600236
601998	+ 0.82	601988
603201	+ 0.81	001289

High negative correlations

600025	- 0.75	605259
600025	- 0.69	603201
600025	- 0.58	605198
600236	- 0.37	603201
600236	- 0.37	605259
600025	- 0.31	001289

Risk-Adjusted Indicators

There is a big difference between Union Stock performing well and Union Semiconductor 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 Union Semiconductor'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
605259	1.64	0.36	0.08	(1.02)	2.05	(1.66)	3.47	(3.13)	14.98
001289	2.24	0.18	(0.03)	(0.04)	2.53	(2.79)	4.14	(3.30)	16.59
603201	2.64	0.43	0.08	(1.22)	2.86	(2.86)	8.36	(4.93)	17.36
601857	1.49	(0.06)	0.00	0.23	0.00	0.00	3.43	(3.33)	17.17
601988	1.23	0.10	(0.03)	(0.20)	1.51	(1.42)	2.67	(2.86)	7.70
600236	1.30	(0.14)	0.00	0.94	0.00	0.00	1.80	(2.30)	13.85
605198	2.26	0.33	0.06	(1.22)	2.56	(2.56)	5.11	(4.14)	19.98
600025	1.33	(0.31)	0.00	2.04	0.00	0.00	2.34	(3.79)	10.45
601998	1.54	0.13	(0.02)	(0.18)	2.05	(1.67)	3.02	(3.06)	13.33
601298	1.71	0.08	0.00	0.03	0.00	0.00	3.87	(4.97)	14.11

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Our tools can tell you how much better you can do entering a position in Union Semiconductor 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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