ULTRA CLEAN Correlations

UCE Stock

EUR 22.40 0.20 0.88%

The current 90-days correlation between ULTRA CLEAN HLDGS and TAL Education Group is 0.05 (i.e., Significant diversification). The correlation of ULTRA CLEAN 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.

ULTRA CLEAN Correlation With Market

Average diversification

The correlation between ULTRA CLEAN HLDGS and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ULTRA CLEAN HLDGS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ULTRA Stock

0.62	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.84	MSF	Microsoft	Pair Corr
0.84	MSF	Microsoft	Pair Corr
0.89	AMZ	Amazon Inc	Pair Corr
0.79	BYRA	BANK RAKYAT IND	Pair Corr
0.63	BYRA	PT Bank Rakyat	Pair Corr
0.73	BYRA	PT Bank Rakyat	Pair Corr
0.83	BYRA	BANK RAKYAT IND	Pair Corr
0.75	PQ9	PT Bank Mandiri	Pair Corr
0.85	PQ9	BANK MANDIRI	Pair Corr
0.67	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against ULTRA Stock

0.66	DBPE	Xtrackers LevDAX	Pair Corr
0.38	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	IZZ	14D	8PM	DVY	KEC	G4A	285	WA4
IZZ		0.58	0.79	0.48	0.59	-0.49	-0.03	0.75	IZZ
14D	0.58		0.45	0.55	0.29	-0.35	-0.13	0.47	14D
8PM	0.79	0.45		0.21	0.59	-0.61	-0.06	0.69	8PM
DVY	0.48	0.55	0.21		0.12	-0.12	0.28	0.35	DVY
KEC	0.59	0.29	0.59	0.12		-0.48	-0.16	0.47	KEC
G4A	-0.49	-0.35	-0.61	-0.12	-0.48		0.62	-0.11	G4A
285	-0.03	-0.13	-0.06	0.28	-0.16	0.62		0.36	285
WA4	0.75	0.47	0.69	0.35	0.47	-0.11	0.36		WA4
	IZZ	14D	8PM	DVY	KEC	G4A	285	WA4

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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

8PM	+ 0.79	IZZ
WA4	+ 0.75	IZZ
WA4	+ 0.69	8PM
285	+ 0.62	G4A
KEC	+ 0.59	IZZ
KEC	+ 0.59	8PM

High negative correlations

G4A	- 0.61	8PM
G4A	- 0.49	IZZ
G4A	- 0.48	KEC
G4A	- 0.35	14D
285	- 0.16	KEC
285	- 0.13	14D

Risk-Adjusted Indicators

There is a big difference between ULTRA Stock performing well and ULTRA CLEAN 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 ULTRA CLEAN'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
IZZ	2.64	0.49	0.14	0.53	3.09	(3.17)	4.76	(6.25)	29.52
14D	2.68	0.09	0.03	3.00	3.35	(4.11)	6.80	(6.02)	18.98
8PM	1.04	0.14	0.14	(0.62)	1.11	(1.35)	2.56	(2.46)	7.10
DVY	1.71	0.16	0.08	0.31	2.37	(1.80)	4.09	(4.19)	13.61
KEC	2.53	0.27	0.04	0.20	3.14	(6.17)	8.33	(6.90)	27.72
G4A	1.71	(0.26)	0.00	0.85	0.00	0.00	4.09	(4.02)	17.67
285	1.43	0.02	0.05	0.77	1.47	(2.00)	3.20	(2.46)	9.56
WA4	1.36	(0.05)	0.00	(0.43)	0.00	0.00	3.57	(2.95)	10.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in ULTRA CLEAN 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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