Chicago Rivet Correlations
| CVR Stock | USD 18.85 0.36 1.95% |
The current 90-days correlation between Chicago Rivet Machine and Lincoln Electric Holdings is 0.3 (i.e., Weak diversification). The correlation of Chicago Rivet 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.
Chicago Rivet Correlation With Market
Average diversification
The correlation between Chicago Rivet Machine and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chicago Rivet Machine and DJI in the same portfolio, assuming nothing else is changed.
Chicago |
Moving together with Chicago Stock
Moving against Chicago Stock
| 0.45 | CP | Canadian Pacific Railway | PairCorr |
| 0.31 | FA | First Advantage Corp | PairCorr |
| 0.48 | GP | GreenPower Motor | PairCorr |
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