Microchip Technology Correlations

MCHP Stock

USD 77.73 0.57 0.74%

The current 90-days correlation between Microchip Technology and ASE Industrial Holding is 0.38 (i.e., Weak diversification). The correlation of Microchip 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.

Microchip Technology Correlation With Market

Almost no diversification

The correlation between Microchip Technology and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Microchip Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Microchip Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Microchip 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 rate.

To learn how to invest in Microchip Stock, please use our How to Invest in Microchip Technology guide.

Moving together with Microchip Stock

0.88	DIOD	Diodes Incorporated	Pair Corr
0.73	AIX2	AIXTRON SE	Pair Corr
0.88	MU	Micron Technology Aggressive Push	Pair Corr
0.8	MX	MagnaChip Semiconductor	Pair Corr
0.93	ON	ON Semiconductor Potential Growth	Pair Corr
0.92	AMK	Amkor Technology	Pair Corr
0.7	VECO	Veeco Instruments Earnings Call This Week	Pair Corr
0.89	ASM	ASM International	Pair Corr
0.78	ALKAL	Kalray SA	Pair Corr
0.67	TWA	TOWA	Pair Corr
0.87	KU1	Kulicke and Soffa	Pair Corr
0.83	TEY	Teradyne	Pair Corr
0.81	INL	Intel	Pair Corr
0.61	SPRQ	Sparq Systems	Pair Corr
0.86	CTNK	Centrotherm International	Pair Corr
0.82	ENPH	Enphase Energy Buyout Trend	Pair Corr
0.94	ANL	Analog Devices	Pair Corr
0.91	ENTG	Entegris	Pair Corr
0.74	WAF	Siltronic AG	Pair Corr
0.85	ROM	ROHM Co	Pair Corr
0.84	VNX	NXP Semiconductors	Pair Corr
0.86	2DQ	ASE TECHNHLDGCOLTD	Pair Corr
0.88	ASME	ASML Holding NV	Pair Corr
0.72	AIXA	AIXTRON SE Earnings Call This Week	Pair Corr
0.88	ASMF	ASML HOLDING NY	Pair Corr
0.86	BSI	BE Semiconductor Ind	Pair Corr
0.82	UMCB	United Microelectronics	Pair Corr

Moving against Microchip Stock

0.82	L5A	Canadian Solar	Pair Corr
0.73	DQ	Daqo New Energy Earnings Call This Week	Pair Corr
0.69	NA	Nano Labs	Pair Corr
0.77	5PZ	SOLTEC POWER HOLD Split	Pair Corr
0.48	QCE	Global PVQ SE	Pair Corr
0.56	ARM	Arm Holdings plc	Pair Corr
0.32	4DS	4DS Memory	Pair Corr

Related Correlations Analysis

	ASX	ALAB	TER	ERIC	FI	GFS	KEYS	STM	HPE	CTSH
ASX		-0.07	0.97	0.8	-0.86	0.92	0.89	0.95	-0.11	-0.39	ASX
ALAB	-0.07		-0.12	-0.31	0.32	-0.01	0.06	-0.03	0.29	0.69	ALAB
TER	0.97	-0.12		0.86	-0.86	0.87	0.92	0.95	0.01	-0.44	TER
ERIC	0.8	-0.31	0.86		-0.76	0.68	0.74	0.75	-0.02	-0.54	ERIC
FI	-0.86	0.32	-0.86	-0.76		-0.72	-0.71	-0.84	0.08	0.66	FI
GFS	0.92	-0.01	0.87	0.68	-0.72		0.87	0.89	-0.12	-0.22	GFS
KEYS	0.89	0.06	0.92	0.74	-0.71	0.87		0.92	0.21	-0.17	KEYS
STM	0.95	-0.03	0.95	0.75	-0.84	0.89	0.92		0.12	-0.26	STM
HPE	-0.11	0.29	0.01	-0.02	0.08	-0.12	0.21	0.12		0.35	HPE
CTSH	-0.39	0.69	-0.44	-0.54	0.66	-0.22	-0.17	-0.26	0.35		CTSH
	ASX	ALAB	TER	ERIC	FI	GFS	KEYS	STM	HPE	CTSH

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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

TER	+ 0.97	ASX
STM	+ 0.95	ASX
STM	+ 0.95	TER
GFS	+ 0.92	ASX
KEYS	+ 0.92	TER
STM	+ 0.92	KEYS

High negative correlations

FI	- 0.86	TER
FI	- 0.86	ASX
STM	- 0.84	FI
FI	- 0.76	ERIC
GFS	- 0.72	FI
KEYS	- 0.71	FI

Risk-Adjusted Indicators

There is a big difference between Microchip Stock performing well and Microchip 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 Microchip 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
ASX	1.70	0.71	0.34	0.93	1.38	(1.95)	4.72	(2.63)	8.76
ALAB	4.65	(0.10)	(0.01)	0.02	6.70	(4.42)	9.00	(11.92)	40.34
TER	2.56	0.88	0.32	0.48	2.15	(2.85)	6.99	(4.29)	18.32
ERIC	1.11	0.20	0.10	2.34	1.14	(1.32)	2.40	(1.65)	10.94
FI	2.02	(0.90)	0.00	(34.83)	0.00	0.00	2.30	(3.13)	47.14
GFS	2.39	0.50	0.19	0.73	2.13	(2.75)	5.77	(3.85)	19.79
KEYS	1.36	0.36	0.24	0.30	1.22	(1.56)	2.87	(2.66)	13.60
STM	2.08	0.45	0.21	0.31	1.76	(2.20)	5.51	(3.25)	12.93
HPE	1.80	(0.19)	0.00	(0.04)	0.00	0.00	3.09	(4.90)	13.47
CTSH	1.47	(0.23)	0.00	(0.10)	0.00	0.00	2.97	(3.22)	15.18

Microchip Technology Corporate Management

Stephen Drehobl	VP of Mcu8 Division and Technology Devel. Division	Profile
David Sadler	VP Controller	Profile
Mathew Bunker	Senior Operations	Profile
James Bjornholt	Chief Officer	Profile
Kimberly Herk	Corporate Counsel	Profile

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