United Microelectronics Correlations

UMC Stock

USD 6.83 0.08 1.19%

The current 90-days correlation between United Microelectronics and ASE Industrial Holding is 0.81 (i.e., Very poor diversification). The correlation of United Microelectronics 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.

United Microelectronics Correlation With Market

Weak diversification

The correlation between United Microelectronics and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Microelectronics 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 United Microelectronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with United Stock

0.84	IMOS	ChipMOS Technologies	Pair Corr
0.9	AMKR	Amkor Technology	Pair Corr
0.89	CDW	CDW Corp	Pair Corr
0.95	NOTE	FiscalNote Holdings Buyout Trend	Pair Corr

Moving against United Stock

0.9	ZM	Zoom Video Communications	Pair Corr
0.84	S	SentinelOne	Pair Corr
0.75	ERIC	Telefonaktiebolaget Fiscal Year End 28th of January 2025	Pair Corr
0.74	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.71	KD	Kyndryl Holdings	Pair Corr
0.64	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.63	EPAM	EPAM Systems	Pair Corr
0.58	EXTR	Extreme Networks	Pair Corr
0.55	IT	Gartner	Pair Corr
0.48	AUR	Aurora Innovation	Pair Corr
0.31	WDAY	Workday	Pair Corr
0.88	CRM	Salesforce Earnings Call Tomorrow	Pair Corr
0.87	NOW	ServiceNow Sell-off Trend	Pair Corr
0.86	TTD	Trade Desk	Pair Corr
0.81	MSI	Motorola Solutions	Pair Corr
0.81	LITE	Lumentum Holdings	Pair Corr
0.8	ZBRA	Zebra Technologies	Pair Corr
0.67	HPE	Hewlett Packard Ente	Pair Corr
0.42	INTU	Intuit Inc	Pair Corr
0.4	DXC	DXC Technology	Pair Corr
0.39	KODK	Eastman Kodak Trending	Pair Corr
0.35	NOK	Nokia Corp ADR	Pair Corr
0.92	TEAM	Atlassian Corp Plc	Pair Corr
0.87	ADSK	Autodesk	Pair Corr
0.87	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	NTGR	NETGEAR	Pair Corr
0.79	NTNX	Nutanix	Pair Corr
0.77	RDCM	Radcom	Pair Corr
0.76	SHOP	Shopify	Pair Corr
0.75	MSB	Mesabi Trust	Pair Corr

Related Correlations Analysis

	SIMO	ASX	LEDS	AMD	INTC	MU	NVDA
SIMO		0.09	-0.02	0.58	-0.41	-0.07	-0.52	SIMO
ASX	0.09		-0.37	0.55	0.41	0.67	0.44	ASX
LEDS	-0.02	-0.37		-0.3	-0.33	-0.38	-0.21	LEDS
AMD	0.58	0.55	-0.3		0.05	0.36	-0.07	AMD
INTC	-0.41	0.41	-0.33	0.05		0.7	0.8	INTC
MU	-0.07	0.67	-0.38	0.36	0.7		0.76	MU
NVDA	-0.52	0.44	-0.21	-0.07	0.8	0.76		NVDA
	SIMO	ASX	LEDS	AMD	INTC	MU	NVDA

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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

NVDA	+ 0.8	INTC
NVDA	+ 0.76	MU
MU	+ 0.7	INTC
MU	+ 0.67	ASX
AMD	+ 0.58	SIMO
AMD	+ 0.55	ASX

High negative correlations

NVDA	- 0.52	SIMO
INTC	- 0.41	SIMO
MU	- 0.38	LEDS
LEDS	- 0.37	ASX
INTC	- 0.33	LEDS
AMD	- 0.3	LEDS

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Microelectronics 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 United Microelectronics' 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
SIMO	1.91	(0.35)	0.00	(0.18)	0.00	0.00	3.26	(4.40)	12.89
ASX	1.71	(0.14)	(0.04)	0.01	2.60	(1.60)	3.43	(3.32)	10.33
LEDS	3.83	0.05	0.01	0.18	5.04	(4.53)	7.89	(8.87)	48.34
AMD	1.99	(0.26)	0.00	(0.05)	0.00	0.00	3.96	(4.00)	16.31
INTC	2.37	0.06	0.08	0.16	2.60	(2.65)	6.36	(3.50)	18.29
MU	2.34	(0.15)	(0.01)	0.05	2.95	(2.30)	4.60	(4.19)	19.00
NVDA	2.17	0.03	0.02	0.15	3.08	(2.12)	4.07	(4.69)	12.87

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