Universal Electronics Correlations

UEIC Stock

USD 3.19 0.06 1.92%

The current 90-days correlation between Universal Electronics and Accenture plc is 0.37 (i.e., Weak diversification). The correlation of Universal Electronics 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 Electronics Correlation With Market

Weak diversification

The correlation between Universal Electronics and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Universal Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Universal Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving together with Universal Stock

0.71	688007	Appotronics Corp	Pair Corr
0.77	600839	Sichuan Changhong	Pair Corr
0.75	VUZI	Vuzix Corp Cmn Trending	Pair Corr
0.85	300866	Anker Innovations	Pair Corr
0.78	300857	Sharetronic Data Tec	Pair Corr
0.78	WTO	UTime Limited	Pair Corr
0.94	GPRO	GoPro Inc	Pair Corr
0.94	GRMN	Garmin	Pair Corr
0.86	001314	Emdoor Information	Pair Corr
0.8	002405	Navinfo	Pair Corr
0.75	KOSS	Koss	Pair Corr
0.7	002925	Xiamen Intretech Class	Pair Corr
0.89	002045	Guoguang Electric	Pair Corr
0.77	002351	Edifier Technology	Pair Corr
0.8	002920	Huizhou Desay SV	Pair Corr
0.7	300790	Yutong Optical	Pair Corr
0.76	300735	DBG Technology	Pair Corr
0.61	200016	Konka Group	Pair Corr
0.67	300083	Guangdong Create Century	Pair Corr
0.92	HAPB	Hapbee Technologies	Pair Corr

Moving against Universal Stock

0.89	300155	Guangdong Anjubao Digital	Pair Corr
0.85	0R2V	Apple Inc	Pair Corr
0.74	DBO	D Box Technologies	Pair Corr
0.71	301189	Shenzhen Aoni Electronic	Pair Corr
0.63	TUNE	Focusrite Plc	Pair Corr
0.57	SMSN	Samsung Electronics	Pair Corr
0.52	603327	Sichuan Furong Technology	Pair Corr
0.34	000801	Sichuan Jiuzhou Elec	Pair Corr
0.92	AMS	Atomos	Pair Corr
0.87	001229	Guangdong AVCiT Tech	Pair Corr
0.87	PPERY	Bank Mandiri Persero	Pair Corr
0.8	PTAIY	Astra International Tbk	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr
0.57	BC94	Samsung Electronics	Pair Corr
0.5	AUA	Audeara	Pair Corr
0.49	600060	Hisense Electric	Pair Corr
0.46	PPERF	Bank Mandiri Persero	Pair Corr
0.43	SONO	Sonos Inc	Pair Corr
0.39	002888	HiVi Acoustics Technology	Pair Corr

Related Correlations Analysis

	ACN	KLAC	APH	ADBE	TXN	AMAT	QCOM	INTC	INTU	ARM
ACN		0.68	0.34	0.35	0.45	0.86	0.58	0.38	0.1	-0.62	ACN
KLAC	0.68		0.76	0.13	-0.02	0.79	0.8	0.46	0.1	-0.41	KLAC
APH	0.34	0.76		-0.37	-0.42	0.63	0.56	0.55	-0.31	-0.19	APH
ADBE	0.35	0.13	-0.37		0.63	-0.03	0.38	-0.04	0.81	-0.04	ADBE
TXN	0.45	-0.02	-0.42	0.63		0.24	0.1	0.14	0.46	-0.19	TXN
AMAT	0.86	0.79	0.63	-0.03	0.24		0.57	0.54	-0.17	-0.54	AMAT
QCOM	0.58	0.8	0.56	0.38	0.1	0.57		0.52	0.33	-0.13	QCOM
INTC	0.38	0.46	0.55	-0.04	0.14	0.54	0.52		-0.18	0.26	INTC
INTU	0.1	0.1	-0.31	0.81	0.46	-0.17	0.33	-0.18		-0.01	INTU
ARM	-0.62	-0.41	-0.19	-0.04	-0.19	-0.54	-0.13	0.26	-0.01		ARM
	ACN	KLAC	APH	ADBE	TXN	AMAT	QCOM	INTC	INTU	ARM

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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

AMAT	+ 0.86	ACN
INTU	+ 0.81	ADBE
QCOM	+ 0.8	KLAC
AMAT	+ 0.79	KLAC
APH	+ 0.76	KLAC
KLAC	+ 0.68	ACN

High negative correlations

ARM	- 0.62	ACN
ARM	- 0.54	AMAT
TXN	- 0.42	APH
ARM	- 0.41	KLAC
ADBE	- 0.37	APH
INTU	- 0.31	APH

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Electronics 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 Electronics' 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
ACN	1.25	0.18	0.11	0.25	1.38	(1.36)	3.36	(2.37)	7.86
KLAC	1.95	0.15	0.08	0.15	2.46	(1.93)	4.30	(4.20)	11.55
APH	1.55	0.11	0.05	0.17	2.14	(1.57)	3.61	(3.60)	12.03
ADBE	1.23	(0.08)	(0.04)	0.00	1.69	(1.24)	3.04	(2.44)	10.25
TXN	1.35	(0.13)	0.00	(0.02)	0.00	0.00	2.64	(2.72)	8.17
AMAT	2.03	0.33	0.13	0.27	2.38	(2.01)	4.54	(4.08)	12.50
QCOM	1.54	(0.09)	(0.01)	0.03	2.26	(1.48)	3.53	(3.93)	15.46
INTC	2.43	0.01	0.03	0.08	2.80	(2.52)	5.03	(4.30)	17.64
INTU	1.12	(0.10)	0.00	(0.05)	0.00	0.00	2.23	(2.48)	6.96
ARM	2.18	(0.46)	0.00	(0.18)	0.00	0.00	4.65	(4.98)	16.74

Universal Electronics Corporate Management

Dr Sheridan	Senior Engineering	Profile
Norman Sheridan	Senior Engineering	Profile
Arsham Hatambeiki	Senior Technology	Profile
Joseph Haughawout	Senior Development	Profile
Raymond Ho	Senior Finance	Profile

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