Stmicroelectronics Correlations

STM
 Stock
  

USD 38.37  0.35  0.90%   

The correlation of Stmicroelectronics is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Stmicroelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stmicroelectronics 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 Stmicroelectronics - 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 Stmicroelectronics NV ADR to buy it.

Moving together with Stmicroelectronics

+0.79TSMTaiwan Semiconductor ADR Tech BoostPairCorr
+0.75NVDANvidia CorpPairCorr
+0.9AVGOBroadcom Fiscal Year End 8th of December 2022 PairCorr
+0.87TXNTexas InstrumentsPairCorr
+0.66QCOMQualcommPairCorr
+0.69INTCIntel CorpPairCorr
+0.69AMDAdv Micro DevicesPairCorr
+0.9ADIAnalog Devices Tech BoostPairCorr
+0.64MUMicron Technology Potential GrowthPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
TXNADI
QCOMAMD
ADINVDA
AVGOADI
TXNAVGO
AMDINTC
  
High negative correlations   
GTEHTXN
GTEHADI
GTEHNVDA
GTEHAVGO
GTEHMU

Stmicroelectronics Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Stmicroelectronics Stock performing well and Stmicroelectronics company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Stmicroelectronics' multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
NVDA 2.89 (0.15)  0.00 (0.01)  0.00 (0.0208)  0.00  5.25 (7.67)  18.87 
ADI 1.92 (0.03)  0.00  0.04  2.25 (0.0013) (1.99)  4.16 (4.01)  10.55 
AVGO 1.86 (0.06) (0.01)  0.02  2.26 (0.0135) (1.96)  4.52 (3.97)  10.32 
TXN 1.70 (0.01)  0.00  0.05  2.00  0.0024 (1.77)  3.76 (3.89)  8.19 
MU 2.16 (0.05) (0.01)  0.03  2.85 (0.0089) (2.20)  4.53 (5.83)  14.39 
GTEH 33.06  8.75  0.17  1.68  23.60  0.19 (100.00)  100.00 (50.00)  150.00 
INTC 2.03 (0.27)  0.00 (0.10)  0.00 (0.08)  0.00  4.33 (3.84)  14.49 
AMD 2.79 (0.38)  0.00 (0.12)  0.00 (0.08)  0.00  4.80 (6.17)  19.07 
QCOM 2.24 (0.26)  0.00 (0.11)  0.00 (0.08)  0.00  3.93 (5.22)  13.48 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Stmicroelectronics 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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Stmicroelectronics Corporate Executives

Elected by the shareholders, the Stmicroelectronics' board of directors comprises two types of representatives: Stmicroelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Stmicroelectronics. The board's role is to monitor Stmicroelectronics' management team and ensure that shareholders' interests are well served. Stmicroelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Stmicroelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.
Carlo Ferro - CFO, Executive VP of Fin., Legal, Infrastructure and Services and Member of Corporate Strategic CommitteeProfile
Philippe Magarshack - CTOProfile

Invested in Stmicroelectronics NV ADR?

The danger of trading Stmicroelectronics NV ADR is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Stmicroelectronics is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Stmicroelectronics. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Stmicroelectronics NV ADR is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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Is Stmicroelectronics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Stmicroelectronics. If investors know Stmicroelectronics will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Stmicroelectronics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
1.27
Market Capitalization
35 B
Quarterly Revenue Growth YOY
0.35
Return On Assets
0.15
Return On Equity
0.35
The market value of Stmicroelectronics NV ADR is measured differently than its book value, which is the value of Stmicroelectronics that is recorded on the company's balance sheet. Investors also form their own opinion of Stmicroelectronics' value that differs from its market value or its book value, called intrinsic value, which is Stmicroelectronics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Stmicroelectronics' market value can be influenced by many factors that don't directly affect Stmicroelectronics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Stmicroelectronics' value and its price as these two are different measures arrived at by different means. Investors typically determine Stmicroelectronics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Stmicroelectronics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.