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I have with a structure like this:
They're all niche and different, although there are common links where a visitor can move from one to another via clicks.
Currently, we use a single UA# for Google Analytics to track all traffic. It works fine, but of course, understanding TOS/bounce/etc requires custom segments and such, and is a PITA.
The thought came up to give each a unique UA. We could get total traffic by adding each UA up together, and we could easily see what each produces in terms of TOS, bounce, exit etc. But the fear is that it will unleash complications like, for example, Google seeing a visitor from one specialportal3.example.com to specialportal4.sandiego.com, as a new visit, and perhaps other issues. Is creating more UA codes a good idae?