Micron Technology Correlations

Stocks . USA . 
Stock . Micron Technology
MU Stock  USD 196.54  10.85  5.84%   
The current 90-days correlation between Micron Technology and Sequans Communications SA is 0.14 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Micron Technology Correlation With Market

Average diversification

The correlation between Micron Technology and DJI is 0.16 (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.
  
Build AI portfolio with Micron Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Micron Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Micron Stock please use our How to Invest in Micron Technology guide.

Moving together with Micron Stock

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  0.9EONR EON ResourcesPairCorr
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  0.794986RYP0 US94986RYP09PairCorr
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  0.84SSVFF Southern Silver ExplPairCorr
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Moving against Micron Stock

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  0.79PPERY Bank Mandiri PerseroPairCorr
  0.65PBCRF PT Bank CentralPairCorr
  0.64PTAIF PT Astra InternationalPairCorr
  0.51PPERF Bank Mandiri PerseroPairCorr
  0.43BKRKF PT Bank RakyatPairCorr

Related Correlations Analysis


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

AXTI
+ 0.88
GNSS
POWI
+ 0.76
SQNS
SLAB
+ 0.59
POWI
SLAB
+ 0.48
SQNS
GNSS
+ 0.11
SLAB
  

High negative correlations

AXTI
- 0.72
POWI
GNSS
- 0.49
POWI
AXTI
- 0.38
SQNS
GNSS
- 0.19
SQNS
AXTI
- 0.13
SLAB

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.

Micron Technology Corporate Management

Michael RayChief VPProfile
Rob BeardGen VPProfile
Rahul SandilHead MarketingProfile
Anand BahlCo OfficerProfile
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