MICROCHIP TECH Correlations

MCP Stock

EUR 66.69 0.91 1.38%

The current 90-days correlation between MICROCHIP TECH and Hong Kong Exchanges is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MICROCHIP TECH moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MICROCHIP TECH moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MICROCHIP TECH Correlation With Market

Almost no diversification

The correlation between MICROCHIP TECH and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MICROCHIP TECH and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MICROCHIP Stock

0.74	6MK	Merck	Pair Corr
0.74	4I1	Philip Morris Intern	Pair Corr
0.65	TOTB	TotalEnergies SE	Pair Corr
0.89	HBC1	HSBC HLDG Earnings Call This Week	Pair Corr
0.74	PQ9	BANK MANDIRI	Pair Corr
0.69	BKE1	BK NEGARA INDO	Pair Corr
0.89	SSUN	Samsung Electronics	Pair Corr
0.89	SSUN	Samsung Electronics	Pair Corr
0.87	SSU	Samsung Electronics	Pair Corr
0.9	UEO	Westlake Chemical Earnings Call This Week	Pair Corr
0.88	PA2	PAN AMER SILVER Earnings Call Today	Pair Corr
0.83	TOM	Toyota Motor	Pair Corr
0.84	FTK	flatexDEGIRO AG	Pair Corr
0.84	MSGL	msg life ag	Pair Corr
0.61	ECK	LUDWIG BECK	Pair Corr
0.85	MKT	MKS Instruments	Pair Corr
0.8	EP4A	Esprinet SpA	Pair Corr
0.62	NPV	Nippon Carbon	Pair Corr
0.86	SZL	Solstad Offshore ASA	Pair Corr
0.9	FMV	First Majestic Silver Earnings Call Tomorrow	Pair Corr
0.8	8ZI	Scandinavian Tobacco	Pair Corr
0.67	UBW1	Babcock Wilcox Enter	Pair Corr
0.87	EMR	Emerson Electric	Pair Corr

Moving against MICROCHIP Stock

0.77	ABL	Abbott Laboratories	Pair Corr
0.47	HK2C	Hong Kong Exchanges	Pair Corr

Related Correlations Analysis

	ABL	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C	SEH	CFX
ABL		-0.12	-0.79	-0.18	-0.84	-0.47	-0.8	0.27	-0.61	0.32	ABL
AMD	-0.12		0.0	0.13	-0.1	-0.2	0.01	0.46	0.02	-0.16	AMD
4I1	-0.79	0.0		0.28	0.87	0.63	0.89	-0.05	0.79	-0.33	4I1
W8V	-0.18	0.13	0.28		0.31	0.38	0.15	0.44	0.09	-0.42	W8V
TOTB	-0.84	-0.1	0.87	0.31		0.75	0.78	-0.1	0.63	-0.48	TOTB
AMG	-0.47	-0.2	0.63	0.38	0.75		0.43	0.19	0.37	-0.61	AMG
HBC1	-0.8	0.01	0.89	0.15	0.78	0.43		-0.23	0.82	-0.01	HBC1
HK2C	0.27	0.46	-0.05	0.44	-0.1	0.19	-0.23		-0.25	-0.43	HK2C
SEH	-0.61	0.02	0.79	0.09	0.63	0.37	0.82	-0.25		0.03	SEH
CFX	0.32	-0.16	-0.33	-0.42	-0.48	-0.61	-0.01	-0.43	0.03		CFX
	ABL	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C	SEH	CFX

Please upgrade your account to get full access to Macroaxis premium features

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

HBC1	+ 0.89	4I1
TOTB	+ 0.87	4I1
SEH	+ 0.82	HBC1
SEH	+ 0.79	4I1
HBC1	+ 0.78	TOTB
AMG	+ 0.75	TOTB

High negative correlations

TOTB	- 0.84	ABL
HBC1	- 0.8	ABL
4I1	- 0.79	ABL
CFX	- 0.61	AMG
SEH	- 0.61	ABL
CFX	- 0.48	TOTB

Risk-Adjusted Indicators

There is a big difference between MICROCHIP Stock performing well and MICROCHIP TECH 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 TECH'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
ABL	1.08	(0.18)	0.00	0.32	0.00	0.00	1.91	(2.11)	14.56
AMD	2.74	(0.21)	0.00	3.58	0.00	0.00	6.33	(5.57)	24.55
4I1	1.14	0.23	0.12	(5.56)	1.24	(1.27)	2.89	(2.55)	7.67
W8V	1.51	0.01	0.00	0.06	2.76	(3.37)	2.08	(2.04)	24.03
TOTB	0.93	0.26	0.19	68.11	0.89	(1.04)	2.23	(1.62)	5.97
AMG	1.46	0.23	0.09	(0.66)	1.57	(1.51)	3.98	(2.86)	10.70
HBC1	1.09	0.19	0.10	0.47	1.31	(1.25)	2.99	(2.05)	8.75
HK2C	0.46	(0.13)	0.00	(3.48)	0.00	0.00	1.40	(1.47)	3.91
SEH	1.87	0.27	0.10	10.74	2.06	(2.21)	3.96	(3.90)	10.05
CFX	1.85	(0.09)	0.00	0.29	0.00	0.00	3.43	(6.04)	12.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in MICROCHIP TECH 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 Risk-Return Analysis Now

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC