Projected Return Density against MarketAllowing for 30-days total investment horizon, the stock has beta coefficient of 1.54 indicating as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are expected to be negative, Micron will likely underperform. Moreover, Micron Technology Inc has alpha of 0.9788 implying that it can potentially generate 0.9788% excess return over S&P 500 after adjusting for the inherited market risk (beta). Allowing for 30-days total investment horizon, the coefficient of variation of Micron is 185.42. The daily returns are destributed with a variance of 3.69 and standard deviation of 1.92. The mean deviation of Micron Technology Inc is currently at 1.42. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.56
Actual Return VolatilityMicron Technology Inc accepts 1.92% volatility on return distribution over the 30 days horizon. S&P 500 shows 0.56% volatility of returns over 30 trading days.
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Micron Technology Inc has a volatility of 1.92 and is 3.43 times more volatile than S&P 500. 20% of all equities and portfolios are less risky than Micron. Compared with the overall equity markets, volatility of historical daily returns of Micron Technology Inc is lower than 20 (%) of all global equities and portfolios over the last 30 days. Use Micron Technology Inc to enhance returns of your portfolios. The stock experiences unexpected upward trend. Watch out for market signals. Check odds of Micron to be traded at $26.77 in 30 days. As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Micron will likely underperform.
Micron correlation with market
Micron Current Risk Indicators
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