Micron Technology Correlations

MU
 Stock
  

USD 54.68  0.81  1.46%   

The correlation of Micron Technology is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Micron Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Micron Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to Micron Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Micron Technology 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 Micron Technology - 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 Micron Technology to buy it.

Moving together with Micron Technology

+0.69ADIAnalog Devices Tech BoostPairCorr
+0.76AMKRAmkor TechnologyPairCorr
+0.64ASXASE Industrial Holding Tech BoostPairCorr
+0.64EMANEMaginPairCorr
+0.65INTCIntelPairCorr
+0.69LSCCLattice Semiconductor Tech BoostPairCorr
+0.68MCHPMicrochip Technology Tech BoostPairCorr
+0.66MMATMeta MaterialsPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
JPMT
JPMA
XOMMRK
MRKJPM
XOMJPM
AT
  
High negative correlations   
MRKUBER
XOMMSFT
MRKMSFT
CRMTWTR
XOMUBER

Micron Technology Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Micron Stock performing well and Micron Technology company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Micron Technology's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.51  0.17 (2.71)  1.73  0.12 (1.84)  3.56 (2.97)  27.10 
MSFT 1.79 (0.14)  0.00 (0.01)  0.00 (0.0424)  0.00  3.92 (3.54)  11.64 
UBER 2.84 (0.08) (0.01)  0.04  3.25 (0.0084) (3.42)  8.60 (5.58)  19.67 
F 1.96 (0.22)  0.00 (0.05)  0.00 (0.06)  0.00  2.75 (5.14)  14.93 
T 1.27  0.08  0.04  0.21  1.18  0.0334 (1.46)  2.54 (2.11)  9.29 
A 1.72  0.19  0.12  0.24  1.64  0.1 (2.08)  3.98 (2.97)  11.04 
CRM 2.32 (0.22)  0.00 (0.06)  0.00 (0.06)  0.00  4.31 (4.48)  18.29 
JPM 1.51  0.18  0.12  0.26  1.30  0.1 (1.64)  4.20 (2.15)  7.57 
MRK 1.00  0.37  0.24  1.28  0.80  0.23 (1.20)  2.44 (1.43)  7.38 
XOM 1.58  0.15  0.07  0.26  1.77  0.07 (1.68)  3.65 (2.91)  9.75 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Micron Technology 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?

Run Stock Tickers Now

   

Stock Tickers

Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
All  Next Launch Module

Micron Technology Corporate Directors

Micron Technology corporate directors refer to members of a Micron Technology board of directors. The board of directors generally takes responsibility for the Micron Technology's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Micron Technology's board members must vote for the resolution. The Micron Technology board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Robert Bailey - Independent DirectorProfile
Lawrence Mondry - Independent DirectorProfile
Ivanhoe Donaldson - Senior Director of Investor RelationsProfile
MaryAnn Wright - DirectorProfile

Invested in Micron Technology?

The danger of trading Micron Technology is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Micron Technology is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Micron Technology. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Micron Technology is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, see Correlation Analysis. You can also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.

Complementary Tools for analysis

When running Micron Technology price analysis, check to measure Micron Technology's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Micron Technology is operating at the current time. Most of Micron Technology's value examination focuses on studying past and present price action to predict the probability of Micron Technology's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Micron Technology's price. Additionally, you may evaluate how the addition of Micron Technology to your portfolios can decrease your overall portfolio volatility.
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Go
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
Go
Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Go
Equity Valuation
Check real value of public entities based on technical and fundamental data
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Fund Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Go
Focused Opportunities
Build portfolios using our predefined set of ideas and optimize them against your investing preferences
Go
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Go
Analyst Recommendations
Analyst recommendations and target price estimates broken down by several categories
Go
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Go
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Go
Is Micron Technology's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Micron Technology. If investors know Micron will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Micron Technology listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.43) 
Market Capitalization
59.4 B
Quarterly Revenue Growth YOY
(0.20) 
Return On Assets
0.097
Return On Equity
0.19
The market value of Micron Technology is measured differently than its book value, which is the value of Micron that is recorded on the company's balance sheet. Investors also form their own opinion of Micron Technology's value that differs from its market value or its book value, called intrinsic value, which is Micron Technology's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Micron Technology's market value can be influenced by many factors that don't directly affect Micron Technology's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Micron Technology's value and its price as these two are different measures arrived at by different means. Investors typically determine Micron Technology value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Micron Technology's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.