Ultra Clean Correlations

UCTT Stock

USD 25.05 0.80 3.30%

The current 90-days correlation between Ultra Clean Holdings and Veeco Instruments is 0.62 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ultra Clean Correlation With Market

Average diversification

The correlation between Ultra Clean Holdings and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Clean Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ultra Stock

0.88	S	SentinelOne	Pair Corr
0.7	VRNS	Varonis Systems	Pair Corr
0.83	VRNT	Verint Systems Earnings Call Tomorrow	Pair Corr
0.71	EXTR	Extreme Networks	Pair Corr
0.83	FLEX	Flex	Pair Corr
0.84	CRM	Salesforce	Pair Corr
0.85	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.79	MSI	Motorola Solutions	Pair Corr
0.76	TDC	Teradata Corp	Pair Corr
0.77	WBX	Wallbox NV	Pair Corr
0.81	ZBRA	Zebra Technologies	Pair Corr
0.77	LFUS	Littelfuse	Pair Corr
0.86	LITE	Lumentum Holdings	Pair Corr
0.78	AVPTW	AvePoint Tech Boost	Pair Corr
0.79	NTGR	NETGEAR	Pair Corr
0.81	PATH	Uipath Inc Earnings Call Today	Pair Corr
0.85	AIRG	Airgain	Pair Corr

Moving against Ultra Stock

0.72	VRSN	VeriSign	Pair Corr
0.68	MQ	Marqeta	Pair Corr
0.36	JG	Aurora Mobile	Pair Corr
0.32	GB	Global Blue Group	Pair Corr
0.31	ERIC	Telefonaktiebolaget	Pair Corr
0.7	NOK	Nokia Corp ADR	Pair Corr
0.7	MLGO	MicroAlgo	Pair Corr
0.82	BRK-A	Berkshire Hathaway	Pair Corr
0.55	WM	Waste Management	Pair Corr

Related Correlations Analysis

	ASYS	VECO	COHU	ONTO	KLIC	ICHR	ENTG	IPGP	TER	PLAB
ASYS		0.78	0.75	0.37	0.76	0.64	0.29	0.59	0.67	0.71	ASYS
VECO	0.78		0.97	0.73	0.98	0.64	0.38	0.87	0.88	0.92	VECO
COHU	0.75	0.97		0.68	0.98	0.61	0.32	0.87	0.89	0.91	COHU
ONTO	0.37	0.73	0.68		0.72	0.41	0.46	0.74	0.74	0.63	ONTO
KLIC	0.76	0.98	0.98	0.72		0.59	0.37	0.9	0.9	0.94	KLIC
ICHR	0.64	0.64	0.61	0.41	0.59		0.68	0.33	0.62	0.53	ICHR
ENTG	0.29	0.38	0.32	0.46	0.37	0.68		0.26	0.35	0.4	ENTG
IPGP	0.59	0.87	0.87	0.74	0.9	0.33	0.26		0.76	0.91	IPGP
TER	0.67	0.88	0.89	0.74	0.9	0.62	0.35	0.76		0.78	TER
PLAB	0.71	0.92	0.91	0.63	0.94	0.53	0.4	0.91	0.78		PLAB
	ASYS	VECO	COHU	ONTO	KLIC	ICHR	ENTG	IPGP	TER	PLAB

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ASYS	2.10	(0.06)	(0.17)	3.48	(3.82)	27.27
VECO	1.87	(0.34)	(0.57)	3.06	(4.54)	13.15
COHU	2.26	(0.65)	(0.77)	3.10	(6.87)	14.30
ONTO	2.71	(0.16)	(0.19)	5.89	(6.63)	21.06
KLIC	1.55	(0.41)	(0.51)	2.73	(4.89)	9.74
ICHR	2.80	(0.15)	(0.18)	4.80	(5.46)	24.85
ENTG	2.03	(0.06)	(0.12)	3.84	(5.19)	11.25
IPGP	1.80	(0.21)	(0.29)	4.39	(4.31)	9.93
TER	2.17	(0.40)	(0.47)	3.19	(5.23)	24.25
PLAB	1.38	(0.29)	(0.44)	2.41	(3.59)	7.31

Ultra Clean Corporate Management

Jamie Palfrey	Senior Resources	Profile
Brian CPA	Senior Officer	Profile
Vijayan Chinnasami	Chief Officer	Profile
Jeffrey Mckibben	Chief Officer	Profile
William Williams	Pres Division	Profile
Yoonku Cho	General Secretary	Profile

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