Corning Incorporated Correlations

GLW Stock

USD 49.67 1.11 2.19%

The current 90-days correlation between Corning Incorporated and Jabil Circuit is 0.49 (i.e., Very weak diversification). The correlation of Corning Incorporated 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.

Corning Incorporated Correlation With Market

Modest diversification

The correlation between Corning Incorporated and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Corning Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Corning Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Corning Stock

0.81	FLEX	Flex	Pair Corr
0.85	CDW	CDW Corp	Pair Corr
0.83	CLS	Celestica	Pair Corr
0.77	JBL	Jabil Circuit	Pair Corr
0.65	NOK	Nokia Corp ADR	Pair Corr
0.75	KVHI	KVH Industries	Pair Corr
0.78	OSIS	OSI Systems	Pair Corr
0.8	ADTN	ADTRAN Inc	Pair Corr
0.85	SANM	Sanmina	Pair Corr
0.8	AUDC	AudioCodes	Pair Corr
0.72	AVNW	Aviat Networks	Pair Corr
0.63	TSAT	Telesat Corp	Pair Corr
0.64	CMBM	Cambium Networks Corp	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr

Moving against Corning Stock

0.6	CTS	CTS Corporation	Pair Corr
0.52	BHE	Benchmark Electronics	Pair Corr
0.46	KE	Kimball Electronics	Pair Corr
0.46	EBON	Ebang International	Pair Corr
0.4	EXTR	Extreme Networks	Pair Corr
0.34	KN	Knowles Cor	Pair Corr
0.32	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.32	ZBRA	Zebra Technologies	Pair Corr
0.6	PLXS	Plexus Corp	Pair Corr
0.55	BELFA	Bel Fuse A	Pair Corr
0.5	RELL	Richardson Electronics	Pair Corr
0.69	CMTL	Comtech Telecommunicatio	Pair Corr
0.6	FICO	Fair Isaac	Pair Corr
0.35	DTSS	Datasea	Pair Corr

Related Correlations Analysis

	OSIS	FN	JBL	VICR	TEL	LFUS	SANM	CLS	PLXS	FLEX
OSIS		-0.29	0.59	0.07	0.54	0.29	0.85	0.73	-0.75	0.43	OSIS
FN	-0.29		-0.19	0.46	0.33	0.27	-0.14	-0.19	0.61	0.06	FN
JBL	0.59	-0.19		-0.22	0.09	-0.28	0.73	0.86	-0.64	0.81	JBL
VICR	0.07	0.46	-0.22		0.71	0.53	0.08	-0.12	0.18	-0.06	VICR
TEL	0.54	0.33	0.09	0.71		0.66	0.52	0.23	-0.18	0.19	TEL
LFUS	0.29	0.27	-0.28	0.53	0.66		0.22	-0.07	0.05	-0.2	LFUS
SANM	0.85	-0.14	0.73	0.08	0.52	0.22		0.88	-0.69	0.65	SANM
CLS	0.73	-0.19	0.86	-0.12	0.23	-0.07	0.88		-0.71	0.73	CLS
PLXS	-0.75	0.61	-0.64	0.18	-0.18	0.05	-0.69	-0.71		-0.39	PLXS
FLEX	0.43	0.06	0.81	-0.06	0.19	-0.2	0.65	0.73	-0.39		FLEX
	OSIS	FN	JBL	VICR	TEL	LFUS	SANM	CLS	PLXS	FLEX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CLS	+ 0.88	SANM
CLS	+ 0.86	JBL
SANM	+ 0.85	OSIS
FLEX	+ 0.81	JBL
CLS	+ 0.73	OSIS
SANM	+ 0.73	JBL

High negative correlations

PLXS	- 0.75	OSIS
PLXS	- 0.71	CLS
PLXS	- 0.69	SANM
PLXS	- 0.64	JBL
FLEX	- 0.39	PLXS
FN	- 0.29	OSIS

Risk-Adjusted Indicators

There is a big difference between Corning Stock performing well and Corning Incorporated 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 Corning Incorporated'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
OSIS	1.64	0.43	0.19	0.30	1.82	(1.77)	3.53	(3.28)	19.87
FN	2.91	(0.11)	0.00	(0.40)	0.00	0.00	4.34	(4.74)	29.01
JBL	1.21	0.32	0.17	0.58	1.65	(1.39)	2.87	(2.11)	15.22
VICR	3.26	0.34	0.07	22.00	4.23	(3.40)	7.07	(5.43)	27.99
TEL	1.03	0.04	0.04	0.06	1.15	(1.15)	1.91	(1.94)	7.45
LFUS	1.21	0.02	0.01	0.04	1.47	(1.25)	3.11	(2.47)	7.83
SANM	1.14	0.15	0.09	0.49	1.52	(1.26)	3.14	(1.97)	9.69
CLS	3.49	0.60	0.09	5.57	5.88	(3.43)	8.86	(5.83)	37.21
PLXS	1.16	(0.22)	0.00	(0.71)	0.00	0.00	1.90	(2.39)	12.43
FLEX	1.72	0.08	0.03	0.08	2.71	(1.76)	3.73	(2.80)	18.94

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC