United Microelectronic Corp. (UMC) — Stock Correlations & Overview
Over the past year, UMC has moved most closely with FLTW, GFS, SOXY. Explore the stocks most correlated and inversely correlated with UMC below, along with its price, financials, and company profile.
Stocks correlated with UMC
Correlation of daily returns. Higher positive values move with UMC; negative values move opposite it. Informational only, not investment advice.
Most correlated with UMC
| Symbol | Company | Correlation |
|---|---|---|
| FLTW | Franklin FTSE Taiwan ETF | 0.57 |
| GFS | GlobalFoundries Inc. Ordinary Shares | 0.56 |
| SOXY | YieldMax Target 12 Semiconductor Option Income ETF | 0.56 |
| CHPY | YieldMax Semiconductor Portfolio Option Income ETF | 0.56 |
| ASX | ASE Technology Holding Co., Ltd. | 0.56 |
Most inversely correlated with UMC
| Symbol | Company | Correlation |
|---|---|---|
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.54 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.52 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.51 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.51 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.50 |
Frequently asked questions about UMC correlations
- Which stocks are most correlated with UMC?
- Based on one year of daily returns, the stocks most correlated with United Microelectronic Corp. (UMC) are FLTW (0.57), GFS (0.56) and SOXY (0.56). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with UMC?
- Over the past year, the stocks most inversely correlated with United Microelectronic Corp. (UMC) are SOXS (-0.54), EUM (-0.52) and EDZ (-0.51). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these UMC correlations calculated?
- We compute the correlation of daily returns between UMC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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