What you show in the picture is a "swing arm" hydrometer, which are notoriously inaccurate, though consistently. If you can compare its reading to that of a calibrated refractometer, you can see how much the swing arm is off and always apply that correction factor to yield a reasonably accurate reading.
Better though just to invest in a refractometer. I think mine came from BRS. It also comes with calibration fluid so you can dial in it's accuracy.