Universal Electronics Correlations

UEIC Stock

USD 4.98 0.05 1.01%

The current 90-days correlation between Universal Electronics and Zepp Health Corp is 0.35 (i.e., Weak diversification). The correlation of Universal Electronics 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 Electronics Correlation With Market

Poor diversification

The correlation between Universal Electronics and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Universal Stock

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

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

Moving together with Universal Stock

0.89	DOOO	BRP Inc	Pair Corr
0.92	VUZI	Vuzix Corp Cmn	Pair Corr
0.88	WLDS	Wearable Devices	Pair Corr
0.96	FOSL	Fossil Group	Pair Corr
0.94	DTC	Solo Brands	Pair Corr
0.87	MSN	Emerson Radio	Pair Corr
0.96	SKX	Skechers USA Earnings Call This Week	Pair Corr
0.97	VRA	Vera Bradley	Pair Corr
0.92	WTO	UTime Limited Tech Boost	Pair Corr
0.97	RCKY	Rocky Brands	Pair Corr
0.97	SHOO	Steven Madden	Pair Corr
0.91	SONO	Sonos Inc Buyout Trend	Pair Corr
0.86	DIBS	1StdibsCom	Pair Corr
0.63	BH	Biglari Holdings	Pair Corr
0.94	HD	Home Depot	Pair Corr
0.82	SG	Sweetgreen Downward Rally	Pair Corr
0.94	EEIQ	Elite Education Group	Pair Corr
0.91	WEYS	Weyco Group	Pair Corr
0.91	ETSY	Etsy Inc	Pair Corr
0.82	WING	Wingstop	Pair Corr
0.81	EVGO	Evgo Inc	Pair Corr
0.93	EWCZ	European Wax Center	Pair Corr
0.81	FLUT	Flutter Entertainment plc	Pair Corr
0.95	FLXS	Flexsteel Industries	Pair Corr
0.9	ASO	Academy Sports Outdoors	Pair Corr
0.85	BBY	Best Buy	Pair Corr
0.91	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr

Moving against Universal Stock

0.44	AREBW	American Rebel Holdings	Pair Corr
0.9	VSTA	Vasta Platform	Pair Corr
0.67	ADT	ADT Inc Earnings Call This Week	Pair Corr
0.74	EJH	E Home Household	Pair Corr
0.73	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	LPL	VZIO	ZEPP	SONO	VOXX	SSNLF	SONY	GPRO	UTME	MICS
LPL		0.0	0.56	0.8	-0.55	0.0	0.26	0.65	0.0	0.0	LPL
VZIO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	VZIO
ZEPP	0.56	0.0		0.36	-0.16	0.0	0.33	0.4	0.0	0.0	ZEPP
SONO	0.8	0.0	0.36		-0.8	0.0	-0.24	0.9	0.0	0.0	SONO
VOXX	-0.55	0.0	-0.16	-0.8		0.0	0.53	-0.88	0.0	0.0	VOXX
SSNLF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SSNLF
SONY	0.26	0.0	0.33	-0.24	0.53	0.0		-0.43	0.0	0.0	SONY
GPRO	0.65	0.0	0.4	0.9	-0.88	0.0	-0.43		0.0	0.0	GPRO
UTME	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	UTME
MICS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MICS
	LPL	VZIO	ZEPP	SONO	VOXX	SSNLF	SONY	GPRO	UTME	MICS

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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

GPRO	+ 0.9	SONO
SONO	+ 0.8	LPL
GPRO	+ 0.65	LPL
ZEPP	+ 0.56	LPL
SONY	+ 0.53	VOXX
GPRO	+ 0.4	ZEPP

High negative correlations

GPRO	- 0.88	VOXX
VOXX	- 0.8	SONO
VOXX	- 0.55	LPL
GPRO	- 0.43	SONY
SONY	- 0.24	SONO
VOXX	- 0.16	ZEPP

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Electronics 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 Electronics' 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
LPL	1.71	(0.14)	0.00	(0.32)	0.00	0.00	2.75	(4.44)	11.88
VZIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZEPP	3.34	0.08	0.00	(0.06)	0.00	0.00	8.62	(8.52)	28.63
SONO	2.46	(0.61)	0.00	(0.54)	0.00	0.00	5.19	(6.21)	25.20
VOXX	0.19	0.03	0.41	(8.47)	0.11	(0.28)	0.55	(0.41)	1.77
SSNLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SONY	1.64	0.43	0.17	0.28	2.11	(1.63)	3.86	(2.66)	12.23
GPRO	3.61	(0.78)	0.00	(0.81)	0.00	0.00	8.99	(9.09)	29.04
UTME	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MICS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Universal Electronics Corporate Management

Dr Sheridan	Senior Engineering	Profile
Norman Sheridan	Senior Engineering	Profile
Arsham Hatambeiki	Senior Technology	Profile
Joseph Haughawout	Senior Development	Profile
Tak Chan	Senior Asia	Profile
Hrag Ohannessian	Security Automation	Profile

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