Umicore SA Correlations

UMICY Stock

USD 2.38 0.06 2.46%

The current 90-days correlation between Umicore SA ADR and Federal Signal is -0.09 (i.e., Good diversification). The correlation of Umicore SA 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.

Umicore SA Correlation With Market

Modest diversification

The correlation between Umicore SA ADR and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Umicore SA ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Umicore Pink Sheet

0.62	VLTO	Veralto	Pair Corr
0.64	ZWS	Zurn Elkay Water	Pair Corr

Moving against Umicore Pink Sheet

0.72	CBYDF	Corby Spirit	Pair Corr
0.68	VLKPF	Volkswagen AG VZO	Pair Corr
0.65	TCTZF	Tencent Holdings	Pair Corr
0.63	VWAPY	Volkswagen AG Pref	Pair Corr
0.63	VWAGY	Volkswagen AG 110	Pair Corr
0.62	VLKAF	Volkswagen AG	Pair Corr
0.62	AXSM	Axsome Therapeutics	Pair Corr
0.61	BAOB	Baraboo Bancorporation	Pair Corr
0.57	NVRO	Nevro Corp	Pair Corr
0.49	DNCVF	Defiance Silver Corp	Pair Corr
0.44	CDR-PB	Cedar Realty Trust	Pair Corr
0.41	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.33	TPII	Triad Pro Innovators	Pair Corr

Related Correlations Analysis

	FSS	CECO	ZWS	FTEK	MKUL	ERII	SCWO	LIQT	CLIR
FSS		0.64	0.83	0.2	0.0	-0.59	0.49	0.79	0.7	FSS
CECO	0.64		0.79	0.42	0.0	-0.41	0.89	0.87	0.84	CECO
ZWS	0.83	0.79		0.22	0.0	-0.5	0.67	0.79	0.79	ZWS
FTEK	0.2	0.42	0.22		0.0	-0.05	0.53	0.29	0.36	FTEK
MKUL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MKUL
ERII	-0.59	-0.41	-0.5	-0.05	0.0		-0.15	-0.44	-0.52	ERII
SCWO	0.49	0.89	0.67	0.53	0.0	-0.15		0.78	0.69	SCWO
LIQT	0.79	0.87	0.79	0.29	0.0	-0.44	0.78		0.77	LIQT
CLIR	0.7	0.84	0.79	0.36	0.0	-0.52	0.69	0.77		CLIR
	FSS	CECO	ZWS	FTEK	MKUL	ERII	SCWO	LIQT	CLIR

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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

SCWO	+ 0.89	CECO
LIQT	+ 0.87	CECO
CLIR	+ 0.84	CECO
ZWS	+ 0.83	FSS
LIQT	+ 0.79	FSS
ZWS	+ 0.79	CECO

High negative correlations

ERII	- 0.59	FSS
CLIR	- 0.52	ERII
ERII	- 0.5	ZWS
LIQT	- 0.44	ERII
ERII	- 0.41	CECO
SCWO	- 0.15	ERII

Risk-Adjusted Indicators

There is a big difference between Umicore Pink Sheet performing well and Umicore SA 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 Umicore SA'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
FSS	1.50	(0.29)	0.00	(0.40)	0.00	0.00	2.31	(3.30)	15.79
CECO	2.05	(0.38)	0.00	(0.49)	0.00	0.00	3.83	(4.56)	12.38
ZWS	1.13	(0.19)	0.00	(0.27)	0.00	0.00	1.82	(3.23)	5.78
FTEK	1.57	0.01	0.00	(0.05)	0.00	0.00	2.97	(2.94)	21.20
MKUL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ERII	1.53	0.05	0.03	0.00	2.04	(1.54)	2.99	(3.54)	8.47
SCWO	3.86	(1.49)	0.00	2.02	0.00	0.00	5.88	(8.75)	27.11
LIQT	2.90	(0.47)	0.00	0.38	0.00	0.00	6.18	(6.08)	17.32
CLIR	4.50	(0.40)	0.00	0.44	0.00	0.00	10.13	(8.61)	40.44

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Our tools can tell you how much better you can do entering a position in Umicore SA 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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Umicore SA Corporate Management

Benoit Stevens	VP Controlling	Profile
Frank Daufenbach	Chief Board	Profile
Ben Gilliams	VP Refining	Profile
Bart Sap	Ex Board	Profile
Geert Olbrechts	AC Supply	Profile
Mathias Miedreich	CEO Board	Profile

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