Micron Technology Correlations

MU Stock

USD 76.95 0.07 0.09%

The current 90-days correlation between Micron Technology and Intel is 0.55 (i.e., Very 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

Poor diversification

The correlation between Micron Technology and DJI is 0.77 (i.e., Poor 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.

Build AI portfolio with Micron Stock

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 together with Micron Stock

0.79	DIOD	Diodes Incorporated Earnings Call Shortly	Pair Corr
0.89	DQ	Daqo New Energy	Pair Corr
0.85	MX	MagnaChip Semiconductor	Pair Corr
0.79	ON	ON Semiconductor	Pair Corr
0.62	PI	Impinj Inc Tech Boost	Pair Corr
0.79	VECO	Veeco Instruments Earnings Call Shortly	Pair Corr
0.69	ENPH	Enphase Energy	Pair Corr
0.93	ENTG	Entegris	Pair Corr
0.89	WOLF	Wolfspeed Trending	Pair Corr
0.84	ADI	Analog Devices	Pair Corr
0.69	AIP	Arteris	Pair Corr
0.79	AMD	Advanced Micro Devices Earnings Call Shortly	Pair Corr
0.67	ARM	Arm Holdings plc	Pair Corr
0.9	ASX	ASE Industrial Holding	Pair Corr
0.61	CAN	Canaan Inc	Pair Corr
0.75	FORM	FormFactor	Pair Corr
0.8	GFS	Globalfoundries	Pair Corr
0.88	ICG	Intchains Group Tech Boost	Pair Corr
0.9	JKS	JinkoSolar Holding	Pair Corr
0.65	MXL	MaxLinear	Pair Corr
0.8	XPER	Xperi Corp	Pair Corr
0.8	STM	STMicroelectronics NV ADR	Pair Corr
0.72	TER	Teradyne	Pair Corr
0.68	TRT	Trio Tech International	Pair Corr
0.75	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.87	TXN	Texas Instruments	Pair Corr
0.79	GCTS	GCT Semiconductor Holding	Pair Corr
0.81	HIMX	Himax Technologies Earnings Call Shortly	Pair Corr
0.85	ICHR	Ichor Holdings Earnings Call Shortly	Pair Corr
0.86	IMOS	ChipMOS Technologies	Pair Corr

Moving against Micron Stock

0.44

LEDS

SemiLEDS

Pair Corr

Related Correlations Analysis

	NVDA	INTC	TSM	MRVL	AMD	AVGO	QCOM
NVDA		0.52	0.89	0.86	0.81	0.9	0.86	NVDA
INTC	0.52		0.24	0.18	0.4	0.22	0.36	INTC
TSM	0.89	0.24		0.97	0.9	0.92	0.96	TSM
MRVL	0.86	0.18	0.97		0.83	0.9	0.9	MRVL
AMD	0.81	0.4	0.9	0.83		0.77	0.95	AMD
AVGO	0.9	0.22	0.92	0.9	0.77		0.87	AVGO
QCOM	0.86	0.36	0.96	0.9	0.95	0.87		QCOM
	NVDA	INTC	TSM	MRVL	AMD	AVGO	QCOM

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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	3.20	0.24	0.00	(0.02)	0.00	0.00	5.27	(7.36)	25.59
INTC	3.55	0.33	0.06	0.06	3.77	(4.99)	7.34	(6.94)	27.56
TSM	2.33	0.03	0.00	(0.12)	0.00	0.00	4.06	(4.80)	17.09
MRVL	3.93	(0.32)	0.00	(0.27)	0.00	0.00	6.17	(11.17)	35.12
AMD	2.85	0.14	0.00	(0.08)	0.00	0.00	4.79	(7.35)	32.23
AVGO	3.00	0.27	0.04	0.00	3.77	(3.21)	5.59	(6.33)	25.60
QCOM	1.93	0.07	0.00	(0.10)	0.00	0.00	3.32	(4.76)	21.59

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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