Micron Technology Correlations

MUTC34 Stock

BRL 349.00 13.11 3.90%

The current 90-days correlation between Micron Technology and BIONTECH SE DRN is 0.13 (i.e., Average diversification). The correlation of Micron 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.

Micron Technology Correlation With Market

Very poor diversification

The correlation between Micron Technology and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Micron Technology and DJI in the same portfolio, assuming nothing else is changed.

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 Stock

0.88	TSMC34	Taiwan Semiconductor	Pair Corr
0.83	TEXA34	Texas Instruments	Pair Corr
0.69	ITLC34	Intel	Pair Corr
0.84	A1DI34	Analog Devices	Pair Corr
0.74	TMCO34	Toyota Motor	Pair Corr
0.87	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.82	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.73	NMRH34	Nomura Holdings	Pair Corr
0.73	JNJB34	Johnson Johnson	Pair Corr
0.97	BRSR6	Banco do Estado	Pair Corr
0.92	EUCA4	Eucatex SA Indstria	Pair Corr
0.74	CMIG4	Companhia Energtica	Pair Corr
0.8	C1FG34	Citizens Financial	Pair Corr
0.76	CATP34	Caterpillar	Pair Corr
0.81	ABUD34	Anheuser Busch InBev	Pair Corr
0.8	Z1IO34	Zions Bancorporation	Pair Corr
0.86	TOPP11	Rbr Top Offices	Pair Corr
0.77	BBSE3	BB Seguridade Partic	Pair Corr
0.65	A1SN34	Ascendis Pharma AS	Pair Corr
0.61	GEPA3	Rio Paranapanema Energia	Pair Corr

Moving against Micron Stock

0.95	SNEC34	Sony Group	Pair Corr
0.83	AVGO34	Broadcom	Pair Corr
0.83	BERK34	Berkshire Hathaway	Pair Corr
0.75	QCOM34	Qualcomm	Pair Corr
0.31	HOND34	Honda Motor	Pair Corr
0.46	TF623	TF623	Pair Corr

Related Correlations Analysis

	A1LG34	MUTC34	W1AB34	TECN3	A1KA34	B1NT34	P1NR34	P2LT34
A1LG34		0.74	0.83	0.78	0.53	0.4	0.59	-0.55	A1LG34
MUTC34	0.74		0.93	0.82	0.68	0.74	0.79	-0.71	MUTC34
W1AB34	0.83	0.93		0.83	0.64	0.59	0.71	-0.69	W1AB34
TECN3	0.78	0.82	0.83		0.61	0.47	0.89	-0.88	TECN3
A1KA34	0.53	0.68	0.64	0.61		0.4	0.62	-0.51	A1KA34
B1NT34	0.4	0.74	0.59	0.47	0.4		0.53	-0.52	B1NT34
P1NR34	0.59	0.79	0.71	0.89	0.62	0.53		-0.86	P1NR34
P2LT34	-0.55	-0.71	-0.69	-0.88	-0.51	-0.52	-0.86		P2LT34
	A1LG34	MUTC34	W1AB34	TECN3	A1KA34	B1NT34	P1NR34	P2LT34

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

W1AB34	+ 0.93	MUTC34
P1NR34	+ 0.89	TECN3
W1AB34	+ 0.83	A1LG34
TECN3	+ 0.83	W1AB34
TECN3	+ 0.82	MUTC34
P1NR34	+ 0.79	MUTC34

High negative correlations

P2LT34	- 0.88	TECN3
P2LT34	- 0.86	P1NR34
P2LT34	- 0.71	MUTC34
P2LT34	- 0.69	W1AB34
P2LT34	- 0.55	A1LG34
P2LT34	- 0.52	B1NT34

Risk-Adjusted Indicators

There is a big difference between Micron Stock performing well and Micron 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 Micron 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
A1LG34	1.22	0.33	0.10	0.31	1.10	(3.71)	6.79	(1.27)	14.89
MUTC34	3.17	0.86	0.26	0.75	2.89	(3.87)	7.94	(4.78)	20.25
W1AB34	0.57	0.28	0.00	(1.23)	0.00	0.00	1.92	0.00	10.24
TECN3	1.70	0.41	0.19	0.53	1.69	(1.92)	4.53	(3.36)	10.70
A1KA34	1.86	0.20	0.05	0.21	2.76	(2.91)	5.45	(3.41)	24.62
B1NT34	1.53	0.02	(0.01)	(0.02)	1.88	(1.82)	2.86	(3.09)	13.88
P1NR34	0.01	(0.01)	0.00	(2.41)	0.00	0.00	0.00	0.00	0.18
P2LT34	2.61	(0.11)	0.00	(0.58)	0.00	0.00	5.10	(4.90)	18.49

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.

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Micron Technology Corporate Management

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

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