Micron Technology Correlations

MU Stock

USD 123.25 1.51 1.21%

The current 90-days correlation between Micron Technology and Uber Technologies is 0.01 (i.e., Significant 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

Good diversification

The correlation between Micron Technology and DJI is -0.01 (i.e., Good 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

0.96	DIOD	Diodes Incorporated	Pair Corr
0.88	MX	MagnaChip Semiconductor	Pair Corr
0.79	NA	Nano Labs	Pair Corr
0.98	ON	ON Semiconductor	Pair Corr
0.73	PI	Impinj Inc	Pair Corr
0.94	ADI	Analog Devices	Pair Corr
0.77	GFS	Globalfoundries	Pair Corr
0.96	STM	STMicroelectronics NV ADR	Pair Corr
0.87	UMC	United Microelectronics	Pair Corr
0.96	INDI	indie Semiconductor Tech Boost	Pair Corr
0.97	KLAC	KLA Tencor	Pair Corr
0.84	KLIC	Kulicke and Soffa	Pair Corr
0.97	MCHP	Microchip Technology	Pair Corr
0.87	MPWR	Monolithic Power Systems	Pair Corr
0.78	MRAM	Everspin Technologies	Pair Corr
0.94	MRVL	Marvell Technology	Pair Corr
0.94	MTSI	MACOM Technology Sol	Pair Corr
0.97	MCHPP	Microchip Technology	Pair Corr
0.87	NVEC	NVE Corporation	Pair Corr
0.93	NVDA	NVIDIA Aggressive Push	Pair Corr
0.86	NVTS	Navitas Semiconductor	Pair Corr
0.78	PRSO	Peraso Inc	Pair Corr
0.9	QRVO	Qorvo Inc	Pair Corr
0.92	ACLS	Axcelis Technologies	Pair Corr
0.94	AMKR	Amkor Technology	Pair Corr
0.83	CRUS	Cirrus Logic	Pair Corr
0.88	KD	Kyndryl Holdings	Pair Corr
0.86	KN	Knowles Cor	Pair Corr
0.74	UI	Ubiquiti Networks	Pair Corr

Moving against Micron Stock

0.58	WOLF	Wolfspeed	Pair Corr
0.38	MOBX	Mobix Labs	Pair Corr
0.65	FI	Fiserv,	Pair Corr

Related Correlations Analysis

	TFX	TMCI	ALVO	XYLO	UBER	AMGN	SEPSD
TFX		0.79	-0.33	0.1	-0.66	0.36	0.48	TFX
TMCI	0.79		-0.35	0.09	-0.56	0.23	0.56	TMCI
ALVO	-0.33	-0.35		-0.17	0.49	0.08	0.1	ALVO
XYLO	0.1	0.09	-0.17		0.19	-0.31	-0.24	XYLO
UBER	-0.66	-0.56	0.49	0.19		-0.4	-0.29	UBER
AMGN	0.36	0.23	0.08	-0.31	-0.4		0.52	AMGN
SEPSD	0.48	0.56	0.1	-0.24	-0.29	0.52		SEPSD
	TFX	TMCI	ALVO	XYLO	UBER	AMGN	SEPSD

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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

TMCI	+ 0.79	TFX
SEPSD	+ 0.56	TMCI
SEPSD	+ 0.52	AMGN
UBER	+ 0.49	ALVO
SEPSD	+ 0.48	TFX
AMGN	+ 0.36	TFX

High negative correlations

UBER	- 0.66	TFX
UBER	- 0.56	TMCI
AMGN	- 0.4	UBER
ALVO	- 0.35	TMCI
ALVO	- 0.33	TFX
AMGN	- 0.31	XYLO

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
TFX	1.56	(0.26)	0.00	(0.21)	0.00	0.00	2.93	(3.85)	14.47
TMCI	2.52	(0.53)	0.00	(0.53)	0.00	0.00	4.37	(5.98)	14.27
ALVO	2.82	(0.22)	0.00	(0.12)	0.00	0.00	7.20	(5.41)	23.55
XYLO	2.44	0.04	0.00	0.15	2.85	(3.44)	6.34	(5.00)	19.25
UBER	1.99	0.24	0.11	0.26	2.24	(2.27)	5.87	(3.48)	16.18
AMGN	1.52	(0.11)	0.00	(0.08)	0.00	0.00	3.35	(3.44)	9.70
SEPSD	1.04	(0.53)	0.00	5.79	0.00	0.00	0.00	0.00	35.00

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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