Universal Display Correlations

Stocks . USA . 
Stock . Universal Display
OLED Stock  USD 116.13  0.18  0.15%   
The current 90-days correlation between Universal Display and Cirrus Logic is 0.27 (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 0.43 (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.
  
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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 small area income & poverty estimates.
For information on how to trade Universal Stock refer to our How to Trade Universal Stock guide.

Moving together with Universal Stock

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Moving against Universal Stock

  0.61002745 MLS CoPairCorr
  0.54688313 Henan Shijia PhotonsPairCorr
  0.44300672 Goke MicroelectronicsPairCorr
  0.414DS 4DS MemoryPairCorr
  0.37MU Micron Technology Aggressive PushPairCorr
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  0.61JKS JinkoSolar HoldingPairCorr
  0.5TER TeradynePairCorr
  0.47688110 DosiliconPairCorr
  0.44FORM FormFactorPairCorr
  0.44601133 BOTH Engineering TecPairCorr
  0.39ADI Analog DevicesPairCorr
  0.39ASX ASE Industrial HoldingPairCorr
  0.36FSLR First SolarPairCorr

Related Correlations Analysis


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

AMKR
+ 0.91
ONTO
KD
+ 0.81
CRUS
SMTC
+ 0.79
AMKR
SMTC
+ 0.74
ONTO
CGNX
+ 0.73
CRUS
SMTC
+ 0.71
SITM
  

High negative correlations

KD
- 0.49
SANM
CGNX
- 0.48
SANM
SANM
- 0.46
CRUS
CGNX
- 0.41
SITM
CGNX
- 0.23
AMKR
SMTC
- 0.2
CGNX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CRUS  1.31 (0.01)(0.01) 0.05  1.89 
(1.32)
 2.83 
(2.75)
 11.90 
ONTO  2.59  0.66  0.25  0.42  2.47 
(3.08)
 5.53 
(4.35)
 10.98 
SITM  3.12  0.58  0.14  2.51  3.29 
(3.60)
 5.98 
(5.62)
 31.75 
SANM  2.65  0.39  0.12  0.32  3.27 
(2.84)
 4.95 
(7.16)
 25.62 
CAMT  2.78  0.15  0.07  0.15  3.01 
(3.24)
 7.61 
(5.48)
 15.59 
AMKR  3.12  0.61  0.19  0.31  3.11 
(3.51)
 8.28 
(6.31)
 25.50 
KD  1.47 (0.26) 0.00 (0.16) 0.00 
 0.00 
 2.99 
(4.59)
 10.26 
TTMI  3.91  1.02  0.20  4.00  3.90 
(4.29)
 9.11 
(8.49)
 22.86 
CGNX  1.68 (0.24) 0.00  1.76  0.00 
 0.00 
 3.37 
(3.43)
 16.68 
SMTC  2.68  0.08  0.04  0.10  3.07 
(2.97)
 5.78 
(5.16)
 18.27 

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 CPACFO VPProfile
Julia BrownCTO, Sr. VP and Member of Scientific Advisory BoardProfile
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