STMicroelectronics Correlations
| STMEF Stock | USD 23.95 0.79 3.19% |
The current 90-days correlation between STMicroelectronics and Microchip Technology is 0.27 (i.e., Modest diversification). The correlation of STMicroelectronics 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.
STMicroelectronics Correlation With Market
Significant diversification
The correlation between STMicroelectronics NV and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STMicroelectronics NV and DJI in the same portfolio, assuming nothing else is changed.
STMicroelectronics |
The ability to find closely correlated positions to STMicroelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STMicroelectronics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back STMicroelectronics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling STMicroelectronics NV to buy it.
Moving together with STMicroelectronics Pink Sheet
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| 0.78 | QCOM | Qualcomm Incorporated | PairCorr |
| 0.82 | ADI | Analog Devices | PairCorr |
| 0.82 | PKX | POSCO Holdings | PairCorr |
| 0.8 | HYMTF | Hyundai Motor | PairCorr |
Moving against STMicroelectronics Pink Sheet
| 0.74 | TKURF | Tokyu REIT | PairCorr |
| 0.72 | CTBB | Qwest Corp NT | PairCorr |
| 0.68 | MRVL | Marvell Technology | PairCorr |
| 0.67 | CTDD | Qwest Corp 6 | PairCorr |
| 0.51 | NVDA | NVIDIA | PairCorr |
| 0.35 | TSM | Taiwan Semiconductor Fiscal Year End 16th of January 2025 | PairCorr |
| 0.82 | DASH | DoorDash, Class A | PairCorr |
| 0.8 | BMY | Bristol Myers Squibb Aggressive Push | PairCorr |
| 0.8 | SMLR | Semler Scientific | PairCorr |
| 0.8 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.7 | TSLA | Tesla Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.7 | DYAI | Dyadic International | PairCorr |
| 0.66 | GLABF | Gemina Laboratories Earnings Call This Week | PairCorr |
| 0.63 | CEROW | CERo Therapeutics Symbol Change | PairCorr |
| 0.58 | BKV | BKV Corporation | PairCorr |
| 0.56 | YLWDF | Yellow Pages Limited | PairCorr |
| 0.53 | RCMT | RCM Technologies | PairCorr |
| 0.46 | TRT | Trio Tech International | PairCorr |
| 0.39 | YMM | Full Truck Alliance | PairCorr |
| 0.85 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.77 | CBSH | Commerce Bancshares Fiscal Year End 16th of January 2025 | PairCorr |
| 0.77 | VCEL | Vericel Corp Ord | PairCorr |
| 0.76 | GIFI | Gulf Island Fabrication | PairCorr |
| 0.74 | C | Citigroup Fiscal Year End 10th of January 2025 | PairCorr |
| 0.74 | RBCAA | Republic Bancorp | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between STMicroelectronics Pink Sheet performing well and STMicroelectronics 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 STMicroelectronics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SLAB | 2.22 | 0.12 | 0.06 | 0.08 | 2.51 | 5.45 | 15.52 | |||
| POWI | 1.84 | (0.01) | 0.00 | 0.02 | 2.26 | 3.98 | 10.93 | |||
| DIOD | 2.29 | 0.00 | 0.00 | 0.02 | 2.69 | 4.92 | 12.19 | |||
| MXL | 3.35 | 0.46 | 0.11 | 0.21 | 4.00 | 7.61 | 18.39 | |||
| AMKR | 1.86 | (0.33) | 0.00 | (0.19) | 0.00 | 3.81 | 10.14 | |||
| MCHP | 1.89 | (0.52) | 0.00 | (0.57) | 0.00 | 3.80 | 12.51 | |||
| ON | 1.88 | (0.18) | 0.00 | (0.14) | 0.00 | 3.50 | 10.87 | |||
| NXPI | 1.64 | (0.20) | 0.00 | (0.19) | 0.00 | 2.69 | 8.71 | |||
| WOLF | 6.75 | 0.07 | 0.02 | 0.04 | 8.77 | 20.41 | 60.51 | |||
| LSCC | 2.13 | 0.09 | 0.04 | 0.07 | 2.49 | 5.22 | 12.76 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in STMicroelectronics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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