Micron Technology Correlations

MU Stock

USD 241.14 22.57 8.56%

The current 90-days correlation between Micron Technology and Lam Research Corp is -0.1 (i.e., Good 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

Good diversification

The correlation between Micron Technology and DJI is -0.02 (i.e., Good 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 manufacturing.

For more information on how to buy Micron Stock please use our How to Invest in Micron Technology guide.

Moving together with Micron Stock

0.65	688123	Giantec Semiconductor	Pair Corr
0.64	603986	GigaDevice SemiconductorBei	Pair Corr
0.78	INTC	Intel	Pair Corr
0.89	688498	Yuanjie Semiconductor	Pair Corr
0.89	688233	Thinkon Semiconductor	Pair Corr
0.84	688766	Puya Semiconductor	Pair Corr
0.86	688525	Biwin Storage Technology	Pair Corr
0.69	300223	Ingenic Semiconductor	Pair Corr
0.79	688372	Shanghai V Test	Pair Corr
0.88	SHG	Shinhan Financial	Pair Corr
0.7	TLK	Telkom Indonesia Tbk	Pair Corr
0.81	IESFY	Interconnection Electric Upward Rally	Pair Corr
0.8	OOAG	OMDA Oil	Pair Corr

Moving against Micron Stock

0.88	688261	Suzhou Oriental Semi	Pair Corr
0.73	300046	Hubei Tech Semiconductors	Pair Corr
0.68	603501	Will Semiconductor	Pair Corr
0.56	688521	VeriSilicon Microelectronics	Pair Corr
0.52	603290	StarPower Semiconductor	Pair Corr
0.84	VFSWW	VinFast Auto	Pair Corr
0.75	688484	Southchip Semiconductor	Pair Corr
0.4	RNDXF	Randgold Exploration	Pair Corr
0.38	SUME	Summer Energy Holdings	Pair Corr

Related Correlations Analysis

	LRCX	AMAT	CRM	QCOM	IBM	CSCO	TXN	KLAC	SAP	ARM
LRCX		0.89	0.2	0.65	0.92	0.7	-0.43	0.96	-0.34	0.0	LRCX
AMAT	0.89		0.14	0.56	0.86	0.8	-0.25	0.85	-0.41	-0.16	AMAT
CRM	0.2	0.14		0.56	0.12	-0.04	0.12	0.26	0.43	0.46	CRM
QCOM	0.65	0.56	0.56		0.68	0.42	-0.26	0.72	-0.05	0.03	QCOM
IBM	0.92	0.86	0.12	0.68		0.76	-0.53	0.87	-0.42	-0.13	IBM
CSCO	0.7	0.8	-0.04	0.42	0.76		-0.43	0.68	-0.74	-0.47	CSCO
TXN	-0.43	-0.25	0.12	-0.26	-0.53	-0.43		-0.4	0.33	-0.01	TXN
KLAC	0.96	0.85	0.26	0.72	0.87	0.68	-0.4		-0.33	-0.03	KLAC
SAP	-0.34	-0.41	0.43	-0.05	-0.42	-0.74	0.33	-0.33		0.76	SAP
ARM	0.0	-0.16	0.46	0.03	-0.13	-0.47	-0.01	-0.03	0.76		ARM
	LRCX	AMAT	CRM	QCOM	IBM	CSCO	TXN	KLAC	SAP	ARM

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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

KLAC	+ 0.96	LRCX
IBM	+ 0.92	LRCX
AMAT	+ 0.89	LRCX
KLAC	+ 0.87	IBM
IBM	+ 0.86	AMAT
KLAC	+ 0.85	AMAT

High negative correlations

SAP	- 0.74	CSCO
TXN	- 0.53	IBM
ARM	- 0.47	CSCO
TXN	- 0.43	CSCO
TXN	- 0.43	LRCX
SAP	- 0.42	IBM

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LRCX	2.34	0.51	0.20	0.32	2.62	(2.52)	5.41	(5.01)	14.49
AMAT	2.13	0.86	0.27	(1.81)	2.05	(2.34)	5.00	(3.25)	12.68
CRM	1.64	0.11	0.00	(0.34)	2.13	(1.60)	3.66	(3.30)	9.91
QCOM	1.58	0.25	0.06	(1.50)	2.15	(1.60)	3.53	(3.93)	15.46
IBM	1.27	0.26	0.13	0.76	1.32	(1.37)	2.29	(2.43)	11.09
CSCO	1.01	0.32	0.13	(0.57)	1.02	(1.08)	1.94	(1.78)	8.39
TXN	1.40	(0.12)	(0.05)	0.00	1.94	(1.37)	2.64	(2.72)	8.17
KLAC	1.86	0.30	0.15	0.27	2.17	(2.05)	4.30	(3.31)	12.45
SAP	1.14	(0.15)	0.00	6.09	0.00	0.00	1.62	(3.22)	7.04
ARM	2.19	(0.30)	0.00	(0.10)	0.00	0.00	4.65	(4.45)	16.74

Micron Technology Corporate Management

Michael Ray	Chief VP	Profile
Rob Beard	Gen VP	Profile
Rahul Sandil	Head Marketing	Profile
Anand Bahl	Co Officer	Profile

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