STMicroelectronics Correlations

STM Stock

USD 27.89 0.73 2.55%

The current 90-days correlation between STMicroelectronics NV ADR and ON Semiconductor is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as STMicroelectronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if STMicroelectronics NV ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

STMicroelectronics Correlation With Market

Almost no diversification

The correlation between STMicroelectronics NV ADR 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 STMicroelectronics NV ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with STMicroelectronics Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in STMicroelectronics NV ADR. 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.

Moving together with STMicroelectronics Stock

0.66	MX	MagnaChip Semiconductor	Pair Corr
0.98	ON	ON Semiconductor Earnings Call This Week	Pair Corr
0.91	AMK	Amkor Technology Earnings Call This Week	Pair Corr
0.89	AP2	Applied Materials	Pair Corr
0.88	TSM	Taiwan Semiconductor	Pair Corr
0.78	UMC	United Microelectronics	Pair Corr
0.81	TSFA	Taiwan Semiconductor	Pair Corr
0.72	INTC	Intel Aggressive Push	Pair Corr
0.94	SGM	STMicroelectronics	Pair Corr
0.93	LSCC	Lattice Semiconductor	Pair Corr
0.69	1HH	Hua Hong Semiconductor	Pair Corr
0.93	MCP	Microchip Technology Earnings Call This Week	Pair Corr
0.94	NXPI	NXP Semiconductors Earnings Call Today	Pair Corr
0.76	TOW	Tower Semiconductor	Pair Corr
0.77	UCE	Ultra Clean Holdings	Pair Corr
0.77	SM2	Semtech	Pair Corr
0.8	ELG	Elmos Semiconductor	Pair Corr
0.62	SMG	Magnachip Semiconductor	Pair Corr
0.9	LTT	Lattice Semiconductor	Pair Corr
0.72	1MA	MACOM Technology Sol Earnings Call This Week	Pair Corr
0.79	UCTT	Ultra Clean Holdings	Pair Corr
0.81	GNTX	Gentex	Pair Corr
0.65	EC	Ecopetrol SA ADR	Pair Corr

Moving against STMicroelectronics Stock

0.67	GCTS	GCT Semiconductor Holding Tech Boost	Pair Corr
0.44	8KH	TOREX SEMICONDUCTOR LTD	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.44	BKRKF	PT Bank Rakyat	Pair Corr
0.37	AMS	Ams AG	Pair Corr

Related Correlations Analysis

	ON	UMC	GFS	JBL	VRSN	PTC	CHKP	SSNC	CDW	FLEX
ON		0.81	0.9	0.85	0.11	-0.49	-0.51	0.41	-0.64	0.5	ON
UMC	0.81		0.93	0.76	0.26	-0.58	-0.61	0.02	-0.72	0.37	UMC
GFS	0.9	0.93		0.81	0.23	-0.58	-0.54	0.14	-0.63	0.52	GFS
JBL	0.85	0.76	0.81		-0.03	-0.42	-0.41	0.33	-0.54	0.65	JBL
VRSN	0.11	0.26	0.23	-0.03		-0.51	-0.35	-0.03	-0.39	-0.39	VRSN
PTC	-0.49	-0.58	-0.58	-0.42	-0.51		0.67	0.03	0.86	0.03	PTC
CHKP	-0.51	-0.61	-0.54	-0.41	-0.35	0.67		-0.02	0.71	0.11	CHKP
SSNC	0.41	0.02	0.14	0.33	-0.03	0.03	-0.02		-0.04	0.22	SSNC
CDW	-0.64	-0.72	-0.63	-0.54	-0.39	0.86	0.71	-0.04		0.05	CDW
FLEX	0.5	0.37	0.52	0.65	-0.39	0.03	0.11	0.22	0.05		FLEX
	ON	UMC	GFS	JBL	VRSN	PTC	CHKP	SSNC	CDW	FLEX

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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

GFS	+ 0.93	UMC
GFS	+ 0.9	ON
CDW	+ 0.86	PTC
JBL	+ 0.85	ON
UMC	+ 0.81	ON
JBL	+ 0.81	GFS

High negative correlations

CDW	- 0.72	UMC
CDW	- 0.64	ON
CDW	- 0.63	GFS
CHKP	- 0.61	UMC
PTC	- 0.58	GFS
PTC	- 0.58	UMC

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
ON	2.05	0.16	0.08	0.12	2.08	(2.41)	4.71	(4.13)	16.50
UMC	2.35	0.53	0.15	(0.73)	2.59	(2.52)	7.50	(4.26)	24.73
GFS	2.20	0.26	0.10	0.34	2.26	(2.35)	5.58	(4.16)	10.94
JBL	1.83	0.16	0.06	0.16	2.56	(1.79)	4.27	(5.03)	12.48
VRSN	0.99	(0.03)	0.00	(0.03)	0.00	0.00	1.99	(2.77)	6.57
PTC	1.22	(0.43)	0.00	(0.35)	0.00	0.00	1.93	(3.01)	9.03
CHKP	1.41	(0.13)	0.00	(0.11)	0.00	0.00	2.18	(2.74)	9.86
SSNC	0.87	(0.09)	0.00	(0.09)	0.00	0.00	1.52	(2.13)	5.01
CDW	1.36	(0.39)	0.00	(0.22)	0.00	0.00	2.31	(3.34)	10.15
FLEX	2.29	(0.06)	(0.02)	(0.01)	2.63	(2.52)	5.23	(4.13)	12.35

STMicroelectronics Corporate Management

Jerome Ramel	Executive Communication	Profile
Michael Hummel	Executive Vice President Front-End Manufacturing, Analog and Power	Profile
Martine Verluyten	Independent Member of the Supervisory Board	Profile
Bertrand Stoltz	Executive Affairs	Profile
Rino Peruzzi	Americas Marketing	Profile

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