Corning Incorporated Correlations

GLW Stock

USD 48.53 0.14 0.29%

The current 90-days correlation between Corning Incorporated and Jabil Circuit is 0.61 (i.e., Poor 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

Very weak diversification

The correlation between Corning Incorporated and DJI is 0.42 (i.e., Very weak 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

0.82	FLEX	Flex	Pair Corr
0.68	CLFD	Clearfield	Pair Corr
0.64	S	SentinelOne	Pair Corr
0.7	DOCN	DigitalOcean Holdings	Pair Corr
0.65	PATH	Uipath Inc Earnings Call Today	Pair Corr
0.73	TWLO	Twilio Inc	Pair Corr

Moving against Corning Stock

0.52

MLGO

MicroAlgo

Pair Corr

Related Correlations Analysis

	KOPN	GLW	KULR	OUST	LPTH	DAKT	FN	PLXS	JBL	ROG
KOPN		0.74	0.13	0.05	0.36	0.23	0.01	-0.19	0.64	0.03	KOPN
GLW	0.74		0.06	0.03	0.32	0.45	0.36	0.08	0.89	0.13	GLW
KULR	0.13	0.06		0.86	0.78	0.59	0.33	0.63	0.21	0.71	KULR
OUST	0.05	0.03	0.86		0.83	0.65	0.45	0.75	0.19	0.77	OUST
LPTH	0.36	0.32	0.78	0.83		0.69	0.36	0.65	0.48	0.69	LPTH
DAKT	0.23	0.45	0.59	0.65	0.69		0.52	0.83	0.54	0.9	DAKT
FN	0.01	0.36	0.33	0.45	0.36	0.52		0.65	0.32	0.57	FN
PLXS	-0.19	0.08	0.63	0.75	0.65	0.83	0.65		0.23	0.92	PLXS
JBL	0.64	0.89	0.21	0.19	0.48	0.54	0.32	0.23		0.24	JBL
ROG	0.03	0.13	0.71	0.77	0.69	0.9	0.57	0.92	0.24		ROG
	KOPN	GLW	KULR	OUST	LPTH	DAKT	FN	PLXS	JBL	ROG

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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

ROG	+ 0.92	PLXS
ROG	+ 0.9	DAKT
JBL	+ 0.89	GLW
OUST	+ 0.86	KULR
LPTH	+ 0.83	OUST
PLXS	+ 0.83	DAKT

High negative correlations

PLXS

- 0.19

KOPN

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
KOPN	5.33	0.75	0.11	0.23	5.24	(6.65)	13.86	(8.38)	38.02
GLW	1.49	0.10	0.04	0.03	2.35	(1.41)	3.43	(3.25)	13.45
KULR	8.72	1.22	0.14	0.38	7.35	(12.09)	28.08	(14.25)	60.30
OUST	4.85	0.63	0.11	0.33	5.31	(5.38)	14.97	(8.90)	32.30
LPTH	4.53	0.27	0.05	0.29	5.95	(4.76)	10.13	(8.25)	39.62
DAKT	1.86	(0.45)	0.00	(1.00)	0.00	0.00	4.35	(3.56)	19.28
FN	3.14	(0.03)	0.00	(0.12)	0.00	0.00	5.54	(7.17)	27.92
PLXS	1.33	(0.33)	0.00	(0.51)	0.00	0.00	2.30	(3.00)	12.43
JBL	1.64	0.21	0.07	0.10	2.50	(1.60)	3.25	(3.42)	15.22
ROG	1.61	(0.47)	0.00	(0.48)	0.00	0.00	2.29	(4.15)	11.34

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