Micron Technology Correlations

MU Stock

USD 93.22 2.19 2.30%

The current 90-days correlation between Micron Technology and Intel is 0.36 (i.e., Weak diversification). The correlation of Micron Technology 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Micron Technology Correlation With Market

Significant diversification

The correlation between Micron Technology and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Micron Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Micron Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Micron Stock please use our How to Invest in Micron Technology guide.

Moving against Micron Stock

0.34	NTGR	NETGEAR	Pair Corr
0.32	TWLO	Twilio Inc	Pair Corr

Related Correlations Analysis

	NVDA	INTC	TSM	MRVL	AMD	AVGO	QCOM
NVDA		0.38	-0.04	-0.08	0.55	-0.27	-0.34	NVDA
INTC	0.38		-0.43	-0.59	0.25	-0.41	0.13	INTC
TSM	-0.04	-0.43		0.84	-0.38	0.75	0.46	TSM
MRVL	-0.08	-0.59	0.84		-0.32	0.75	0.2	MRVL
AMD	0.55	0.25	-0.38	-0.32		-0.71	-0.49	AMD
AVGO	-0.27	-0.41	0.75	0.75	-0.71		0.32	AVGO
QCOM	-0.34	0.13	0.46	0.2	-0.49	0.32		QCOM
	NVDA	INTC	TSM	MRVL	AMD	AVGO	QCOM

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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

MRVL	+ 0.84	TSM
AVGO	+ 0.75	TSM
AVGO	+ 0.75	MRVL
AMD	+ 0.55	NVDA
QCOM	+ 0.46	TSM
INTC	+ 0.38	NVDA

High negative correlations

AVGO	- 0.71	AMD
MRVL	- 0.59	INTC
QCOM	- 0.49	AMD
TSM	- 0.43	INTC
AVGO	- 0.41	INTC
AMD	- 0.38	TSM

Risk-Adjusted Indicators

There is a big difference between Micron Stock performing well and Micron Technology 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 Micron Technology's 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
NVDA	2.48	(0.08)	0.00	2.08	0.00	0.00	4.45	(4.10)	21.86
INTC	2.52	(0.07)	0.00	(0.05)	0.00	0.00	7.20	(5.28)	22.16
TSM	2.03	0.05	0.02	0.15	2.92	(2.22)	5.15	(3.63)	18.79
MRVL	3.27	0.18	0.03	0.17	5.04	(3.11)	6.11	(6.21)	42.29
AMD	1.88	(0.42)	0.00	(0.48)	0.00	0.00	3.56	(4.76)	10.90
AVGO	2.66	0.40	0.10	1.52	3.52	(2.95)	5.52	(3.98)	41.83
QCOM	1.32	(0.02)	0.00	(0.02)	0.00	0.00	2.73	(3.08)	8.26

Micron Technology Corporate Management

Michael Ray	Chief VP	Profile
Rob Beard	Gen VP	Profile
Rahul Sandil	Head Marketing	Profile
Anand Bahl	Co Officer	Profile

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