CoreCivic Correlations

Stocks . USA . 
Stock . CoreCivic
CXW Stock  USD 20.81  0.53  2.48%   
The current 90-days correlation between CoreCivic and Brady is 0.25 (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

Weak diversification

The correlation between CoreCivic and DJI is 0.35 (i.e., 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.
  
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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 interest.
For more information on how to buy CoreCivic Stock please use our How to Invest in CoreCivic guide.

Moving together with CoreCivic Stock

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Moving against CoreCivic Stock

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  0.45BW Babcock Wilcox EnterPairCorr
  0.43BE Bloom Energy CorpPairCorr
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  0.35CR Crane CompanyPairCorr
  0.34CMPR Cimpress NVPairCorr
  0.32AP Ampco PittsburghPairCorr
  0.32DE Deere CompanyPairCorr
  0.75OP OceanpalPairCorr
  0.45PL Planet Labs PBCPairCorr
  0.44DY Dycom IndustriesPairCorr
  0.44KE Kimball ElectronicsPairCorr
  0.37GE GE Aerospace Earnings Call This WeekPairCorr
  0.36SB Safe Bulkers Earnings Call This WeekPairCorr
  0.34TG TredegarPairCorr
  0.33TE T1 Energy Symbol ChangePairCorr

Related Correlations Analysis

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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   
REZI
+ 0.93
EPR
REZI
+ 0.93
MAC
MAC
+ 0.91
EPR
SBRA
+ 0.81
EPR
NL
+ 0.8
GEO
MG
+ 0.75
GEO
  
High negative correlations   
NL
- 0.86
EPR
GEO
- 0.79
EPR
SBRA
- 0.78
NL
REZI
- 0.78
GEO
REZI
- 0.73
MG
MAC
- 0.73
GEO

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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