MagnaChip Semiconductor Correlations

MX Stock

USD 3.96 0.13 3.39%

The current 90-days correlation between MagnaChip Semiconductor and CEVA Inc is 0.36 (i.e., Weak diversification). The correlation of MagnaChip Semiconductor 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.

MagnaChip Semiconductor Correlation With Market

Average diversification

The correlation between MagnaChip Semiconductor and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MagnaChip Semiconductor 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 MagnaChip Semiconductor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with MagnaChip Stock

0.75	BB	BlackBerry Earnings Call This Week	Pair Corr
0.69	DOCN	DigitalOcean Holdings	Pair Corr
0.87	FTNT	Fortinet	Pair Corr
0.66	GWRE	Guidewire Software	Pair Corr

Moving against MagnaChip Stock

0.34	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.38	JNPR	Juniper Networks	Pair Corr
0.41	SGD	Safe and Green	Pair Corr

Related Correlations Analysis

	CEVA	MTSI	FORM	MXL	LASR	AOSL	SYNA	SGH	DIOD	SITM
CEVA		0.37	0.22	0.35	0.4	0.43	0.3	0.0	0.35	0.12	CEVA
MTSI	0.37		0.9	0.95	0.82	0.93	0.87	0.0	0.91	0.89	MTSI
FORM	0.22	0.9		0.89	0.7	0.85	0.82	0.0	0.96	0.88	FORM
MXL	0.35	0.95	0.89		0.81	0.86	0.89	0.0	0.9	0.89	MXL
LASR	0.4	0.82	0.7	0.81		0.85	0.85	0.0	0.78	0.68	LASR
AOSL	0.43	0.93	0.85	0.86	0.85		0.83	0.0	0.89	0.77	AOSL
SYNA	0.3	0.87	0.82	0.89	0.85	0.83		0.0	0.86	0.79	SYNA
SGH	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SGH
DIOD	0.35	0.91	0.96	0.9	0.78	0.89	0.86	0.0		0.85	DIOD
SITM	0.12	0.89	0.88	0.89	0.68	0.77	0.79	0.0	0.85		SITM
	CEVA	MTSI	FORM	MXL	LASR	AOSL	SYNA	SGH	DIOD	SITM

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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

DIOD	+ 0.96	FORM
MXL	+ 0.95	MTSI
AOSL	+ 0.93	MTSI
DIOD	+ 0.91	MTSI
FORM	+ 0.9	MTSI
DIOD	+ 0.9	MXL

High negative correlations

SITM	- 0.0	SGH
DIOD	- 0.0	SGH
SGH	- 0.0	SYNA
SGH	- 0.0	AOSL
SGH	- 0.0	LASR
SGH	- 0.0	MXL

Risk-Adjusted Indicators

There is a big difference between MagnaChip Stock performing well and MagnaChip Semiconductor 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 MagnaChip Semiconductor'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CEVA	2.65	(0.08)	(0.09)	4.55	(5.66)	31.05
MTSI	2.38	(0.24)	(0.20)	4.66	(5.71)	20.65
FORM	2.36	(0.40)	(0.46)	3.99	(6.50)	15.16
MXL	3.87	(0.47)	(0.27)	6.45	(8.03)	27.60
LASR	2.66	(0.29)	(0.27)	5.67	(7.08)	16.59
AOSL	3.60	(0.55)	(0.41)	5.72	(8.75)	22.05
SYNA	2.38	(0.19)	(0.19)	5.23	(4.68)	21.71
SGH	0.00	0.00	0.00	0.00	0.00	0.00
DIOD	2.01	(0.43)	(0.45)	3.58	(4.35)	10.47
SITM	3.86	(0.17)	(0.15)	5.63	(8.89)	33.58

MagnaChip Semiconductor Corporate Executives

Elected by the shareholders, the MagnaChip Semiconductor's board of directors comprises two types of representatives: MagnaChip Semiconductor inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MagnaChip. The board's role is to monitor MagnaChip Semiconductor's management team and ensure that shareholders' interests are well served. MagnaChip Semiconductor's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, MagnaChip Semiconductor's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Young Woo	Chief Financial Officer	Profile
	Hyuk Woo	CTO Group	Profile

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