Micron Technology Correlations

Stocks . Germany . 
Stock . Micron Technology
MTE Stock  EUR 97.40  1.10  1.12%   
The current 90-days correlation between Micron Technology and Hana Microelectronics PCL 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

Average diversification

The correlation between Micron Technology and DJI is 0.11 (i.e., Average 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

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Moving against Micron Stock

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Related Correlations Analysis

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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   
SC3
+ 0.75
SEH
SC3
+ 0.74
ME5A
EAC
+ 0.65
5ZM
SEH
+ 0.58
5ZM
ME5A
+ 0.54
SEH
WA4
+ 0.42
HAA1
  
High negative correlations   
WA4
- 0.6
ME5A
WA4
- 0.5
SC3
WA4
- 0.24
5ZM
WA4
- 0.22
SEH
ME5A
- 0.17
EAC
WA4
- 0.06
EAC

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.

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.
Scott DeBoerEx ProductsProfile
Michael BokanVP SalesProfile
Sanjay MehrotraPres CEOProfile
Sumit SadanaExec OfficerProfile
Rob BeardGen VPProfile
Anand BahlCo OfficerProfile
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