Universal Scientific Correlations

601231 Stock

15.71 0.36 2.35%

The current 90-days correlation between Universal Scientific and Industrial and Commercial is 0.16 (i.e., Average diversification). The correlation of Universal Scientific 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 Scientific Correlation With Market

Significant diversification

The correlation between Universal Scientific Industria and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Scientific Industria and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Universal Stock

0.67	600755	Xiamen ITG Group	Pair Corr
0.69	000661	Changchun High New	Pair Corr
0.63	301379	Techshine Electronics	Pair Corr

Related Correlations Analysis

	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658
601398		0.97	0.96	0.97	0.59	0.67	0.51	0.86	0.91	0.84	601398
601939	0.97		0.93	0.91	0.59	0.8	0.53	0.78	0.92	0.92	601939
601288	0.96	0.93		0.97	0.58	0.57	0.51	0.82	0.88	0.82	601288
601988	0.97	0.91	0.97		0.55	0.55	0.45	0.88	0.87	0.79	601988
601857	0.59	0.59	0.58	0.55		0.57	0.94	0.65	0.65	0.59	601857
600036	0.67	0.8	0.57	0.55	0.57		0.51	0.4	0.78	0.88	600036
600938	0.51	0.53	0.51	0.45	0.94	0.51		0.58	0.56	0.56	600938
600941	0.86	0.78	0.82	0.88	0.65	0.4	0.58		0.72	0.61	600941
601328	0.91	0.92	0.88	0.87	0.65	0.78	0.56	0.72		0.9	601328
601658	0.84	0.92	0.82	0.79	0.59	0.88	0.56	0.61	0.9		601658
	601398	601939	601288	601988	601857	600036	600938	600941	601328	601658

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Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Scientific 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 Scientific'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
601398	1.14	0.30	0.21	2.87	1.01	(1.49)	2.83	(1.71)	8.14
601939	1.14	0.31	0.18	1.75	1.15	(1.37)	3.32	(1.93)	8.64
601288	1.06	0.25	0.14	1.64	1.12	(1.18)	2.98	(1.89)	7.78
601988	1.02	0.25	0.18	1.43	0.93	(1.29)	2.67	(1.98)	7.70
601857	1.32	0.21	0.08	7.11	1.80	(1.67)	3.55	(2.01)	17.17
600036	1.59	0.39	0.17	(6.71)	1.72	(1.84)	4.65	(2.56)	13.83
600938	1.40	0.19	0.07	(2.66)	1.89	(1.51)	3.83	(2.13)	16.49
600941	1.07	0.21	0.16	(79.70)	0.94	(1.38)	3.09	(2.04)	8.38
601328	1.34	0.27	0.16	4.25	1.22	(1.60)	3.26	(2.12)	10.82
601658	1.39	0.32	0.17	1.81	1.31	(1.70)	3.49	(2.23)	9.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Universal Scientific 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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Universal Scientific Corporate Executives

Elected by the shareholders, the Universal Scientific's board of directors comprises two types of representatives: Universal Scientific 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 Scientific's management team and ensure that shareholders' interests are well served. Universal Scientific'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 Scientific's outside directors are responsible for providing unbiased perspectives on the board's policies.

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