Corning Incorporated Correlations

GLW Stock

USD 54.01 0.19 0.35%

The current 90-days correlation between Corning Incorporated and Jabil Circuit is 0.47 (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

Poor diversification

The correlation between Corning Incorporated and DJI is 0.7 (i.e., Poor 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.

Build AI portfolio with Corning Stock

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

0.7	CDW	CDW Corp	Pair Corr
0.91	LPL	LG Display Earnings Call This Week	Pair Corr
0.92	VSH	Vishay Intertechnology	Pair Corr
0.97	LASR	nLIGHT Inc	Pair Corr
0.97	LITE	Lumentum Holdings	Pair Corr
0.74	NTGR	NETGEAR	Pair Corr
0.8	RGTIW	Rigetti Computing Trending	Pair Corr
0.88	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.92	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.85	RDWR	Radware	Pair Corr
0.79	RGTI	Rigetti Computing Trending	Pair Corr
0.85	AAOI	Applied Opt	Pair Corr
0.77	ADTN	ADTRAN Inc	Pair Corr
0.96	AVNW	Aviat Networks	Pair Corr
0.81	CIEN	Ciena Corp	Pair Corr
0.81	CRNT	Ceragon Networks	Pair Corr
0.96	CSCO	Cisco Systems	Pair Corr
0.94	MU	Micron Technology	Pair Corr
0.9	MX	MagnaChip Semiconductor	Pair Corr
0.93	ON	ON Semiconductor	Pair Corr
0.92	VRRM	Verra Mobility Corp	Pair Corr
0.63	ENLV	Enlivex Therapeutics	Pair Corr
0.95	ADI	Analog Devices	Pair Corr
0.92	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.93	ARM	Arm Holdings plc	Pair Corr
0.85	FRGE	Forge Global Holdings	Pair Corr
0.84	GFS	Globalfoundries	Pair Corr

Moving against Corning Stock

0.7	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.45	QMCO	Quantum	Pair Corr
0.73	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	OSIS	FN	JBL	VICR	TEL	LFUS	SANM	CLS	PLXS	FLEX
OSIS		0.45	0.44	-0.42	0.69	0.76	0.4	0.47	0.66	0.56	OSIS
FN	0.45		0.98	0.17	0.9	0.88	0.96	0.98	0.86	0.97	FN
JBL	0.44	0.98		0.19	0.89	0.88	0.97	0.98	0.87	0.98	JBL
VICR	-0.42	0.17	0.19		-0.02	-0.07	0.27	0.17	0.12	0.11	VICR
TEL	0.69	0.9	0.89	-0.02		0.99	0.88	0.92	0.93	0.96	TEL
LFUS	0.76	0.88	0.88	-0.07	0.99		0.85	0.89	0.94	0.94	LFUS
SANM	0.4	0.96	0.97	0.27	0.88	0.85		0.97	0.86	0.96	SANM
CLS	0.47	0.98	0.98	0.17	0.92	0.89	0.97		0.89	0.98	CLS
PLXS	0.66	0.86	0.87	0.12	0.93	0.94	0.86	0.89		0.92	PLXS
FLEX	0.56	0.97	0.98	0.11	0.96	0.94	0.96	0.98	0.92		FLEX
	OSIS	FN	JBL	VICR	TEL	LFUS	SANM	CLS	PLXS	FLEX

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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

LFUS	+ 0.99	TEL
JBL	+ 0.98	FN
CLS	+ 0.98	FN
CLS	+ 0.98	JBL
FLEX	+ 0.98	JBL
FLEX	+ 0.98	CLS

High negative correlations

VICR	- 0.42	OSIS
LFUS	- 0.07	VICR
TEL	- 0.02	VICR

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	1.55	0.02	0.01	0.15	2.30	(1.47)	3.22	(3.17)	17.06
FN	2.02	0.56	0.27	0.48	1.88	(2.47)	5.54	(2.71)	13.79
JBL	1.31	0.67	0.58	0.82	0.00	(1.64)	3.95	(1.38)	10.46
VICR	1.91	(0.08)	(0.01)	0.07	4.70	(1.76)	3.56	(3.08)	29.23
TEL	0.99	0.36	0.35	0.47	0.43	(1.19)	2.44	(1.65)	7.51
LFUS	1.69	0.40	0.27	0.38	1.30	(1.98)	4.65	(2.51)	14.81
SANM	1.42	0.31	0.19	0.44	1.41	(1.69)	2.86	(2.48)	8.16
CLS	2.31	0.94	0.43	1.04	1.72	(3.01)	5.50	(3.40)	14.13
PLXS	1.11	0.04	0.02	0.18	1.09	(1.27)	2.47	(2.10)	6.55
FLEX	1.49	0.70	0.58	0.78	0.38	(1.94)	4.64	(1.55)	9.10

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