STMicroelectronics Correlations

0INB Stock

EUR 22.18 0.11 0.50%

The current 90-days correlation between STMicroelectronics and Electronic Arts is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as STMicroelectronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if STMicroelectronics NV moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

STMicroelectronics Correlation With Market

Weak diversification

The correlation between STMicroelectronics NV and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STMicroelectronics NV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to STMicroelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STMicroelectronics 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 STMicroelectronics - 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 STMicroelectronics NV to buy it.

Moving against STMicroelectronics Stock

0.88	0R15	SoftBank Group Corp	Pair Corr
0.84	0LJL	Universal Health Services	Pair Corr
0.83	0R29	Intuitive Surgical	Pair Corr
0.77	0J8P	IDEXX Laboratories	Pair Corr
0.74	AEO	Aeorema Communications	Pair Corr
0.7	PPH	PPHE Hotel Group	Pair Corr
0.65	IDHC	Integrated Diagnostics	Pair Corr
0.63	LST	Light Science Techno	Pair Corr
0.6	0P4F	Ford Motor	Pair Corr
0.59	IHG	InterContinental Hotels	Pair Corr
0.55	0R2N	Raytheon Technologies	Pair Corr
0.53	0HPH	Brighthouse Financial	Pair Corr
0.43	TYT	Toyota Motor Corp	Pair Corr
0.34	BBY	Balfour Beatty plc	Pair Corr
0.34	AO	Ao World	Pair Corr
0.86	0HTG	Cardinal Health	Pair Corr
0.8	VARE	Various Eateries PLC	Pair Corr
0.77	0HIT	Iberdrola	Pair Corr
0.69	0RIH	Alphabet Class A	Pair Corr
0.65	OIT	Odyssean Investment Trust	Pair Corr
0.64	0HAU	LVMH Moet Hennessy	Pair Corr
0.61	AZN	AstraZeneca PLC	Pair Corr
0.61	0RQ9	Lundin Mining Corp	Pair Corr
0.55	GAW	Games Workshop Group	Pair Corr
0.38	NTBR	Northern Bear Plc	Pair Corr
0.37	S32	South32	Pair Corr
0.36	SMSN	Samsung Electronics	Pair Corr

Related Correlations Analysis

	ATM	0IFX	AMS	0O2B	OBI	0ND2	SMSD
ATM		0.18	-0.38	-0.43	-0.58	-0.68	0.04	ATM
0IFX	0.18		-0.06	-0.48	-0.54	-0.39	0.53	0IFX
AMS	-0.38	-0.06		0.2	0.47	0.64	-0.17	AMS
0O2B	-0.43	-0.48	0.2		0.79	0.54	-0.63	0O2B
OBI	-0.58	-0.54	0.47	0.79		0.89	-0.55	OBI
0ND2	-0.68	-0.39	0.64	0.54	0.89		-0.28	0ND2
SMSD	0.04	0.53	-0.17	-0.63	-0.55	-0.28		SMSD
	ATM	0IFX	AMS	0O2B	OBI	0ND2	SMSD

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

0ND2	+ 0.89	OBI
OBI	+ 0.79	0O2B
0ND2	+ 0.64	AMS
0ND2	+ 0.54	0O2B
SMSD	+ 0.53	0IFX
OBI	+ 0.47	AMS

High negative correlations

0ND2	- 0.68	ATM
SMSD	- 0.63	0O2B
OBI	- 0.58	ATM
SMSD	- 0.55	OBI
OBI	- 0.54	0IFX
0O2B	- 0.48	0IFX

Risk-Adjusted Indicators

There is a big difference between STMicroelectronics Stock performing well and STMicroelectronics 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 STMicroelectronics' 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
ATM	2.60	0.14	0.03	(3.16)	2.65	(3.33)	6.25	(4.55)	15.52
0IFX	0.60	0.24	0.30	0.70	0.00	(0.73)	0.42	(0.29)	18.75
AMS	1.34	(0.01)	(0.03)	0.03	1.75	(1.54)	2.48	(3.20)	14.45
0O2B	1.67	(0.36)	0.00	(3.11)	0.00	0.00	4.03	(4.03)	11.11
OBI	1.61	(0.85)	0.00	(2.04)	0.00	0.00	1.92	(5.66)	12.89
0ND2	1.33	(0.43)	0.00	(0.86)	0.00	0.00	2.98	(3.30)	12.64
SMSD	1.68	0.25	0.10	0.33	2.12	(1.86)	3.68	(3.79)	10.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in STMicroelectronics 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.

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STMicroelectronics Corporate Management

Elected by the shareholders, the STMicroelectronics' board of directors comprises two types of representatives: STMicroelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of STMicroelectronics. The board's role is to monitor STMicroelectronics' management team and ensure that shareholders' interests are well served. STMicroelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, STMicroelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

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