Micron Technology Correlations

MU Stock

USD 102.91 0.77 0.75%

The current 90-days correlation between Micron Technology and Intel is 0.56 (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

Very weak diversification

The correlation between Micron Technology and DJI is 0.46 (i.e., Very weak 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.

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

0.92	ENTG	Entegris	Pair Corr
0.63	ADI	Analog Devices Fiscal Year End 19th of November 2024	Pair Corr
0.73	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.85	ARM	Arm Holdings plc	Pair Corr
0.94	FORM	FormFactor	Pair Corr
0.81	GFS	Globalfoundries	Pair Corr
0.91	STM	STMicroelectronics NV ADR Fiscal Year End 23rd of January 2025	Pair Corr
0.86	TER	Teradyne	Pair Corr
0.64	TRT	Trio Tech International Tech Boost	Pair Corr
0.61	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.8	VLN	Valens	Pair Corr
0.86	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.84	KLAC	KLA Tencor	Pair Corr
0.92	KLIC	Kulicke and Soffa Fiscal Year End 20th of November 2024	Pair Corr
0.77	MAXN	Maxeon Solar Technologies	Pair Corr
0.93	MCHP	Microchip Technology	Pair Corr
0.79	MRAM	Everspin Technologies	Pair Corr
0.76	MTSI	MACOM Technology Sol Fiscal Year End 14th of November 2024	Pair Corr
0.65	OLED	Universal Display	Pair Corr
0.92	PDFS	PDF Solutions	Pair Corr
0.65	PRSO	Peraso Inc Tech Boost	Pair Corr
0.78	QRVO	Qorvo Inc	Pair Corr
0.78	QUIK	QuickLogic	Pair Corr
0.93	ACLS	Axcelis Technologies	Pair Corr
0.92	ACMR	Acm Research Buyout Trend	Pair Corr
0.89	AMKR	Amkor Technology	Pair Corr
0.73	SEDG	SolarEdge Technologies	Pair Corr
0.93	ASML	ASML Holding NV Fiscal Year End 22nd of January 2025	Pair Corr
0.61	SWKS	Skyworks Solutions Fiscal Year End 7th of November 2024	Pair Corr
0.96	UCTT	Ultra Clean Holdings	Pair Corr

Moving against Micron Stock

0.67	IT	Gartner	Pair Corr
0.41	S	SentinelOne	Pair Corr
0.32	SMTC	Semtech	Pair Corr

Related Correlations Analysis

	NVDA	INTC	TSM	MRVL	AMD	AVGO	QCOM
NVDA		0.39	0.82	0.68	0.83	0.84	0.67	NVDA
INTC	0.39		0.36	0.15	0.54	0.25	0.86	INTC
TSM	0.82	0.36		0.75	0.91	0.9	0.65	TSM
MRVL	0.68	0.15	0.75		0.74	0.79	0.43	MRVL
AMD	0.83	0.54	0.91	0.74		0.86	0.77	AMD
AVGO	0.84	0.25	0.9	0.79	0.86		0.5	AVGO
QCOM	0.67	0.86	0.65	0.43	0.77	0.5		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	3.09	(0.21)	(0.02)	0.01	3.99	(3.04)	6.13	(6.67)	22.34
INTC	3.06	(0.73)	0.00	(0.11)	0.00	0.00	6.16	(6.12)	32.24
TSM	2.19	(0.18)	(0.02)	0.01	3.22	(2.04)	5.03	(5.26)	13.82
MRVL	2.89	(0.22)	(0.01)	0.03	3.45	(3.28)	6.66	(5.91)	17.32
AMD	2.48	(0.08)	0.00	0.06	3.35	(2.67)	4.91	(6.08)	15.09
AVGO	2.67	(0.13)	0.00	0.04	3.83	(2.70)	5.36	(7.59)	22.31
QCOM	2.26	(0.44)	0.00	(0.12)	0.00	0.00	4.04	(6.55)	17.76

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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