STMicroelectronics Correlations

SGM Stock

EUR 23.91 0.21 0.89%

The current 90-days correlation between STMicroelectronics and Applied Materials is 0.01 (i.e., Significant diversification). The correlation of STMicroelectronics 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.

STMicroelectronics Correlation With Market

Very poor diversification

The correlation between STMicroelectronics NV and DJI is 0.88 (i.e., Very poor 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 together with STMicroelectronics Stock

0.72	WMT	Walmart	Pair Corr
0.79	CSA	Accenture plc	Pair Corr
0.72	6HW	BANK HANDLOWY	Pair Corr
0.9	FUC	Fanuc	Pair Corr
0.84	NAQ	Nasdaq Inc	Pair Corr
0.77	SPT6	Beta Systems Software	Pair Corr
0.69	U1DA	CLOCKCHAIN AG INH	Pair Corr
0.73	1GT	GEK Terna Holding	Pair Corr
0.9	85S	Science Applications	Pair Corr
0.78	VHY	Vishay Intertechnology Earnings Call Tomorrow	Pair Corr
0.75	NOH1	Norsk Hydro ASA	Pair Corr
0.65	XTP	Sino AG	Pair Corr
0.67	EF3	Eiffage SA	Pair Corr
0.81	XMF	STOMO MITSUI FINL	Pair Corr
0.72	COZ	Cognizant Technology	Pair Corr
0.77	SWF	STNLY BLCKDECK Earnings Call Tomorrow	Pair Corr
0.84	NAQ	Nasdaq Inc	Pair Corr
0.81	XCA	CREDIT AGRICOLE Earnings Call Tomorrow	Pair Corr
0.65	9DB	Dave Busters Enterta	Pair Corr
0.81	MSI	Mitsui Chemicals Earnings Call This Week	Pair Corr
0.9	LTT	Lattice Semiconductor Earnings Call This Week	Pair Corr
0.91	FPMB	FREEPORT MCMORAN	Pair Corr
0.87	FRYA	Swedbank AB	Pair Corr

Moving against STMicroelectronics Stock

0.32	BAC	Verizon Communications	Pair Corr
0.89	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	108	H4L1	AP2	RYQ	VMC	BRU	MMX
108		0.59	0.81	0.39	0.37	0.57	0.61	108
H4L1	0.59		0.65	0.45	0.24	0.6	0.62	H4L1
AP2	0.81	0.65		0.78	0.53	0.52	0.72	AP2
RYQ	0.39	0.45	0.78		0.47	0.29	0.57	RYQ
VMC	0.37	0.24	0.53	0.47		0.35	0.82	VMC
BRU	0.57	0.6	0.52	0.29	0.35		0.54	BRU
MMX	0.61	0.62	0.72	0.57	0.82	0.54		MMX
	108	H4L1	AP2	RYQ	VMC	BRU	MMX

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
108	1.40	0.37	0.18	4.85	1.15	(1.98)	3.05	(2.45)	16.20
H4L1	2.66	0.38	0.09	(0.66)	2.76	(3.61)	7.21	(5.47)	14.52
AP2	2.32	0.50	0.19	0.73	2.13	(2.81)	4.92	(3.77)	14.53
RYQ	2.90	0.13	0.02	(0.27)	3.41	(3.53)	5.80	(6.72)	25.30
VMC	1.19	0.02	0.00	0.07	1.59	(1.37)	2.40	(2.42)	8.42
BRU	1.50	0.16	0.07	0.77	1.54	(1.76)	3.68	(2.23)	13.72
MMX	1.16	0.05	0.02	0.14	1.55	(1.12)	2.17	(2.63)	8.88

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.

Celine Berthier	Group Relations	Profile
Jerome Ramel	Executive Communication	Profile
Rajita DSouza	CHRO Responsibility	Profile
Bertrand Stoltz	Executive Affairs	Profile
Philippe Dereeper	Chief Secretary	Profile

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