Silicon Motion Technology Corporation (SIMO) — Stock Correlations & Overview
Over the past year, SIMO has moved most closely with PSI, AIS, XSD. Explore the stocks most correlated and inversely correlated with SIMO below, along with its price, financials, and company profile.
Stocks correlated with SIMO
Correlation of daily returns. Higher positive values move with SIMO; negative values move opposite it. Informational only, not investment advice.
Most correlated with SIMO
| Symbol | Company | Correlation |
|---|---|---|
| PSI | Invesco Semiconductors ETF | 0.64 |
| AIS | VistaShares Artificial Intelligence Supercycle ETF | 0.64 |
| XSD | State Street SPDR S&P Semiconductor ETF | 0.64 |
| FTXL | First Trust Nasdaq Semiconductor ETF | 0.63 |
| NXPI | NXP Semiconductors N.V.SEMICONDUCTORS & RELATED DEVICES | 0.63 |
Most inversely correlated with SIMO
| Symbol | Company | Correlation |
|---|---|---|
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.62 |
| REW | Proshares UltraShort Technology | -0.54 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.54 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.54 |
| MUD | Direxion Shares ETF Trust Direxion Daily MU Bear 1X ETF | -0.52 |
Frequently asked questions about SIMO correlations
- Which stocks are most correlated with SIMO?
- Based on one year of daily returns, the stocks most correlated with Silicon Motion Technology Corporation (SIMO) are PSI (0.64), AIS (0.64) and XSD (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SIMO?
- Over the past year, the stocks most inversely correlated with Silicon Motion Technology Corporation (SIMO) are SOXS (-0.62), REW (-0.54) and TSXD (-0.54). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SIMO correlations calculated?
- We compute the correlation of daily returns between SIMO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.