| HNI Stock | | | USD 50.98 0.70 1.35% |
The current 90-days correlation between HNI Corp and Acco Brands is 0.66 (i.e., Poor diversification). The correlation of HNI 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.
HNI Corp Correlation With Market
Poor diversification
The correlation between HNI Corp and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HNI Corp 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 HNI Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
For more detail on how to invest in HNI Stock please use our
How to Invest in HNI Corp guide.