| IX Stock | | | USD 107.96 0.07 0.06% |
The current 90-days correlation between Orix Corp Ads and Discover Financial Services is 0.13 (i.e., Average diversification). The correlation of Orix Corp 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.
Orix Corp Correlation With Market
Weak diversification
The correlation between Orix Corp Ads and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orix Corp Ads 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 Orix Corp Ads. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in interest.