Universal Display Correlations

OLED Stock

USD 104.07 13.05 11.14%

The current 90-days correlation between Universal Display and Sunrun Inc is 0.28 (i.e., Modest diversification). The correlation of Universal Display 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.

Universal Display Correlation With Market

Very weak diversification

The correlation between Universal Display and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Display and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Universal Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Universal Display. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

For information on how to trade Universal Stock refer to our How to Trade Universal Stock guide.

Moving together with Universal Stock

0.62

VECO

Veeco Instruments Earnings Call This Week

Pair Corr

Moving against Universal Stock

0.43

Nano Labs

Pair Corr

Related Correlations Analysis

	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG
RUN		-0.34	0.1	0.44	0.42	0.34	0.49	0.14	0.45	RUN
CVI	-0.34		-0.23	-0.48	-0.44	-0.3	-0.41	0.27	-0.53	CVI
MUR	0.1	-0.23		0.37	0.33	0.5	0.3	-0.02	0.43	MUR
VVV	0.44	-0.48	0.37		0.94	0.89	0.92	0.48	0.94	VVV
CRC	0.42	-0.44	0.33	0.94		0.87	0.97	0.53	0.95	CRC
VAL	0.34	-0.3	0.5	0.89	0.87		0.83	0.43	0.93	VAL
MGY	0.49	-0.41	0.3	0.92	0.97	0.83		0.55	0.92	MGY
PBF	0.14	0.27	-0.02	0.48	0.53	0.43	0.55		0.39	PBF
RIG	0.45	-0.53	0.43	0.94	0.95	0.93	0.92	0.39		RIG
	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG

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

MGY	+ 0.97	CRC
RIG	+ 0.95	CRC
CRC	+ 0.94	VVV
RIG	+ 0.94	VVV
RIG	+ 0.93	VAL
MGY	+ 0.92	VVV

High negative correlations

RIG	- 0.53	CVI
VVV	- 0.48	CVI
CRC	- 0.44	CVI
MGY	- 0.41	CVI
CVI	- 0.34	RUN
VAL	- 0.3	CVI

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Display 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 Universal Display'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
RUN	3.57	0.03	0.03	0.08	4.35	(3.69)	6.13	(7.71)	20.73
CVI	2.09	(0.91)	0.00	(0.99)	0.00	0.00	3.78	(4.46)	19.04
MUR	2.29	0.13	0.05	0.17	2.79	(2.60)	4.82	(4.00)	19.82
VVV	1.59	0.24	0.15	0.28	1.41	(1.80)	3.83	(2.86)	10.00
CRC	1.60	0.27	0.12	0.48	1.68	(1.73)	3.61	(3.17)	8.47
VAL	2.80	0.80	0.26	0.62	2.42	(3.27)	7.22	(6.28)	41.60
MGY	1.48	0.23	0.11	0.59	1.57	(1.58)	3.08	(2.92)	8.43
PBF	2.65	(0.17)	0.00	(0.29)	0.00	0.00	5.20	(5.87)	19.72
RIG	2.36	0.69	0.20	0.57	2.64	(2.57)	7.67	(5.88)	16.41

Universal Display Corporate Executives

Elected by the shareholders, the Universal Display's board of directors comprises two types of representatives: Universal Display inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Universal. The board's role is to monitor Universal Display's management team and ensure that shareholders' interests are well served. Universal Display's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Universal Display's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Brian CPA	CFO VP	Profile
	Julia Brown	CTO, Sr. VP and Member of Scientific Advisory Board	Profile

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