Microchip Technology Correlations

MCHP Stock

USD 75.47 0.73 0.96%

The current 90-days correlation between Microchip Technology and ASE Industrial Holding is 0.39 (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

Poor diversification

The correlation between Microchip Technology and DJI is 0.61 (i.e., Poor 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 various price indices.

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

Moving together with Microchip Stock

0.65	PHJMF	PT Hanjaya Mandala	Pair Corr
0.65	DIS	Walt Disney	Pair Corr

Moving against Microchip Stock

0.56	T	ATT Inc Earnings Call This Week	Pair Corr
0.35	PIFMY	Indofood Sukses Makmur	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	ASX	ALAB	TER	ERIC	FI	GFS	KEYS	STM	HPE	CTSH
ASX		0.34	0.95	-0.13	0.24	0.32	0.47	0.43	0.07	0.46	ASX
ALAB	0.34		0.21	0.32	0.02	0.44	0.26	0.46	0.36	0.15	ALAB
TER	0.95	0.21		-0.15	0.32	0.26	0.54	0.42	0.19	0.55	TER
ERIC	-0.13	0.32	-0.15		-0.01	-0.29	-0.27	-0.19	0.53	-0.33	ERIC
FI	0.24	0.02	0.32	-0.01		0.17	0.24	0.37	0.07	0.19	FI
GFS	0.32	0.44	0.26	-0.29	0.17		0.79	0.82	-0.08	0.67	GFS
KEYS	0.47	0.26	0.54	-0.27	0.24	0.79		0.78	0.14	0.92	KEYS
STM	0.43	0.46	0.42	-0.19	0.37	0.82	0.78		0.24	0.75	STM
HPE	0.07	0.36	0.19	0.53	0.07	-0.08	0.14	0.24		0.14	HPE
CTSH	0.46	0.15	0.55	-0.33	0.19	0.67	0.92	0.75	0.14		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	+ 0.95	ASX
CTSH	+ 0.92	KEYS
STM	+ 0.82	GFS
KEYS	+ 0.79	GFS
STM	+ 0.78	KEYS
CTSH	+ 0.75	STM

High negative correlations

CTSH	- 0.33	ERIC
GFS	- 0.29	ERIC
KEYS	- 0.27	ERIC
STM	- 0.19	ERIC
ERIC	- 0.15	TER
ERIC	- 0.13	ASX

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	1.79	0.53	0.23	0.58	1.74	(1.91)	4.23	(2.91)	13.07
ALAB	4.10	0.15	0.02	0.25	5.55	(3.92)	7.93	(8.44)	24.41
TER	2.55	0.65	0.25	0.42	2.28	(2.84)	6.80	(4.05)	27.80
ERIC	0.99	(0.01)	(0.05)	0.06	1.45	(1.07)	1.78	(1.65)	8.46
FI	6.70	(4.01)	0.00	5.92	0.00	0.00	3.36	(44.04)	45.14
GFS	1.95	0.35	0.14	0.56	1.81	(2.12)	5.43	(3.48)	10.30
KEYS	1.40	0.28	0.17	0.29	1.33	(1.53)	2.87	(2.83)	13.11
STM	1.63	0.10	0.09	0.15	1.62	(1.72)	5.16	(2.91)	10.54
HPE	1.64	(0.25)	0.00	(0.10)	0.00	0.00	2.85	(4.17)	9.92
CTSH	1.13	0.28	0.22	0.39	0.82	(1.31)	2.80	(2.07)	8.70

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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