Ubright Optronics Related Correlations

4933 Stock

TWD 56.40 1.00 1.81%

Generate correlation matrix for Ubright Optronics and other related equities to check the degree to which Ubright Optronics price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Ubright Optronics. To filter out specific equities, please toggle its corresponding legend item. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ubright Optronics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

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Please note, there is a significant difference between Ubright Optronics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Ubright Optronics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ubright Optronics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

	2317	2308	3008	2327	4938	2409	3481
2317		0.82	-0.56	0.92	0.95	-0.07	-0.55	2317
2308	0.82		-0.16	0.72	0.86	0.06	-0.29	2308
3008	-0.56	-0.16		-0.51	-0.48	0.2	0.49	3008
2327	0.92	0.72	-0.51		0.82	0.01	-0.56	2327
4938	0.95	0.86	-0.48	0.82		-0.05	-0.49	4938
2409	-0.07	0.06	0.2	0.01	-0.05		0.59	2409
3481	-0.55	-0.29	0.49	-0.56	-0.49	0.59		3481
	2317	2308	3008	2327	4938	2409	3481

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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

4938	+ 0.95	2317
2327	+ 0.92	2317
4938	+ 0.86	2308
2308	+ 0.82	2317
4938	+ 0.82	2327
2327	+ 0.72	2308

High negative correlations

3481	- 0.56	2327
3008	- 0.56	2317
3481	- 0.55	2317
2327	- 0.51	3008
3481	- 0.49	4938
4938	- 0.48	3008

Risk-Adjusted Indicators

There is a big difference between Ubright Stock performing well and Ubright Optronics 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 Ubright Optronics' 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
2317	1.61	0.57	0.26	(3.11)	1.04	(2.25)	4.71	(2.91)	12.52
2308	1.64	0.05	(0.03)	(0.07)	1.93	(1.73)	4.58	(2.84)	11.83
3008	1.26	(0.28)	0.00	14.45	0.00	0.00	2.12	(3.05)	8.26
2327	1.10	0.10	0.02	1.53	1.24	(1.19)	2.24	(1.99)	7.71
4938	1.30	0.20	0.07	(2.67)	1.48	(1.42)	3.11	(2.99)	13.54
2409	1.30	(0.15)	0.00	(0.30)	0.00	0.00	2.97	(2.72)	7.89
3481	1.68	(0.08)	0.00	13.15	0.00	0.00	4.50	(3.29)	12.14

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Ubright Optronics Related Correlations

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