CoreCivic Correlations

Stocks . USA . 
Stock . CoreCivic
CXW Stock  USD 18.05  0.00  0.00%   
The current 90-days correlation between CoreCivic and Japan Airlines Ltd is 0.29 (i.e., Modest diversification). The correlation of CoreCivic 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.

CoreCivic Correlation With Market

Very weak diversification

The correlation between CoreCivic and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoreCivic and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with CoreCivic Stock
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CoreCivic. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in national income and product accounts.
For more information on how to buy CoreCivic Stock please use our How to Invest in CoreCivic guide.

Moving together with CoreCivic Stock

  0.87ACU Acme UnitedPairCorr
  0.75MSA MSA SafetyPairCorr
  0.63UNF UnifirstPairCorr
  0.69ADVWW Advantage SolutionsPairCorr
  0.79APOLSINHOT Apollo Sindoori HotelsPairCorr
  0.77DJML DJ Mediaprint LogisticsPairCorr
  0.74TILE InterfacePairCorr
  0.75CPRT Copart IncPairCorr
  0.76NSFDF NXT Energy SolutionsPairCorr
  0.64MZDAF Mazda MotorPairCorr
  0.87CAFZF Canaf InvestmentsPairCorr

Moving against CoreCivic Stock

  0.58GDI GDI IntegratedPairCorr
  0.51603600 UE FurniturePairCorr
  0.74WK WorkivaPairCorr
  0.73EOSE Eos Energy Enterprises Aggressive PushPairCorr
  0.69AAPL Apple IncPairCorr
  0.67VYNE Vyne TherapeuticsPairCorr
  0.65ZTLLF ZonetailPairCorr
  0.52ANKOF Angkor Resources Corp Earnings Call This WeekPairCorr
  0.5VLO Valero EnergyPairCorr
  0.49HBIO Harvard BiosciencePairCorr
  0.84LUNMF Lundin MiningPairCorr
  0.84GLAXF GSK plcPairCorr
  0.75CSUAY China Shenhua EnergyPairCorr
  0.74NESR National Energy ServicesPairCorr

Related Correlations Analysis


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

VINP
+ 0.84
GAINN
SINGY
+ 0.5
IGI
JETMF
+ 0.49
GAINN
JETMF
+ 0.39
VINP
JETMF
+ 0.38
SINGY
IGI
+ 0.33
JAPSY
  

High negative correlations

VINP
- 0.84
JAPSY
GAINN
- 0.74
JAPSY
VINP
- 0.46
SINGY
VINP
- 0.45
IGI
IGI
- 0.44
GAINN
JETMF
- 0.36
JAPSY

Risk-Adjusted Indicators

There is a big difference between CoreCivic Stock performing well and CoreCivic 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 CoreCivic'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.

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