United Microelectronics Correlations

Stocks . USA . 
Stock . United Microelectronics
UMC Stock  USD 7.48  0.05  0.66%   
The current 90-days correlation between United Microelectronics and ASE Industrial Holding is 0.5 (i.e., Very weak 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

Modest diversification

The correlation between United Microelectronics and DJI is 0.29 (i.e., Modest 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.
  
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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.
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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.

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