Millicom International Correlations

TIGO Stock

USD 27.21 0.23 0.84%

The current 90-days correlation between Millicom International and KT Corporation is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Millicom International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Millicom International Cellular moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Millicom International Correlation With Market

Weak diversification

The correlation between Millicom International Cellula and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Millicom International Cellula and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Millicom International Cellular. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Millicom Stock

0.72	FYBR	Frontier Communications	Pair Corr
0.72	RPID	Rapid Micro Biosystems	Pair Corr

Moving against Millicom Stock

0.48	GSAT	Globalstar	Pair Corr
0.47	TEO	Telecom Argentina	Pair Corr
0.47	UCL	Ucloudlink Group	Pair Corr
0.72	DJCO	Daily Journal Corp	Pair Corr
0.55	LBTYA	Liberty Global PLC	Pair Corr
0.51	SJ	Scienjoy Holding Corp	Pair Corr
0.5	OB	Outbrain	Pair Corr
0.49	EA	Electronic Arts Earnings Call This Week	Pair Corr
0.44	ZH	Zhihu Inc ADR	Pair Corr

Related Correlations Analysis

	KT	TLK	SKM	PHI	VIV	TIMB	LBRDK	LBRDA	CCOI	CHTR
KT		0.04	0.3	-0.18	-0.09	-0.12	-0.12	-0.12	0.03	0.22	KT
TLK	0.04		0.51	0.86	0.62	0.64	0.23	0.24	0.54	-0.1	TLK
SKM	0.3	0.51		0.37	0.61	0.64	0.55	0.56	0.84	0.45	SKM
PHI	-0.18	0.86	0.37		0.62	0.64	0.21	0.21	0.43	-0.28	PHI
VIV	-0.09	0.62	0.61	0.62		0.98	0.72	0.72	0.68	0.3	VIV
TIMB	-0.12	0.64	0.64	0.64	0.98		0.68	0.68	0.71	0.26	TIMB
LBRDK	-0.12	0.23	0.55	0.21	0.72	0.68		1.0	0.69	0.75	LBRDK
LBRDA	-0.12	0.24	0.56	0.21	0.72	0.68	1.0		0.7	0.75	LBRDA
CCOI	0.03	0.54	0.84	0.43	0.68	0.71	0.69	0.7		0.45	CCOI
CHTR	0.22	-0.1	0.45	-0.28	0.3	0.26	0.75	0.75	0.45		CHTR
	KT	TLK	SKM	PHI	VIV	TIMB	LBRDK	LBRDA	CCOI	CHTR

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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

LBRDA	+ 1.0	LBRDK
TIMB	+ 0.98	VIV
PHI	+ 0.86	TLK
CCOI	+ 0.84	SKM
CHTR	+ 0.75	LBRDK
CHTR	+ 0.75	LBRDA

High negative correlations

CHTR	- 0.28	PHI
PHI	- 0.18	KT
LBRDA	- 0.12	KT
LBRDK	- 0.12	KT
TIMB	- 0.12	KT
CHTR	- 0.1	TLK

Risk-Adjusted Indicators

There is a big difference between Millicom Stock performing well and Millicom International 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 Millicom International'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
KT	1.36	0.18	0.07	0.54	1.78	(1.53)	3.12	(2.62)	10.72
TLK	1.51	(0.19)	0.00	(0.32)	0.00	0.00	3.10	(3.19)	10.63
SKM	0.87	(0.11)	0.00	(0.30)	0.00	0.00	1.96	(1.72)	6.54
PHI	1.02	(0.20)	0.00	(0.66)	0.00	0.00	1.53	(2.63)	6.56
VIV	1.64	(0.14)	0.00	(0.29)	0.00	0.00	3.17	(4.02)	8.12
TIMB	1.69	(0.18)	0.00	(0.59)	0.00	0.00	3.15	(4.15)	8.88
LBRDK	1.65	(0.04)	(0.03)	(0.01)	2.50	(1.66)	2.68	(3.68)	20.75
LBRDA	1.67	(0.04)	(0.03)	0.00	2.49	(1.68)	2.94	(3.86)	21.18
CCOI	1.18	(0.16)	0.00	(0.28)	0.00	0.00	2.47	(3.04)	8.16
CHTR	1.67	0.11	0.03	0.32	2.16	(1.99)	3.28	(3.44)	21.07

Millicom International Corporate Management

Salvador JD	Chief VP	Profile
Vivian Kobeh	Co Director	Profile
Bruno Nieuwland	Chief Officer	Profile
Bart Vanhaeren	Vice Finance	Profile
Patrick Gill	Company Secretary	Profile

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