CoreCivic Correlations

CXW Stock

USD 20.07 0.06 0.30%

The current 90-days correlation between CoreCivic and EPR Properties is 0.24 (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 poor diversification

The correlation between CoreCivic and DJI is 0.82 (i.e., Very poor 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 median.

For more information on how to buy CoreCivic Stock please use our How to Invest in CoreCivic guide.

Moving together with CoreCivic Stock

0.86	ACU	Acme United	Pair Corr
0.65	DCM	Data Communications	Pair Corr
0.78	CGY	Calian Technologies	Pair Corr
0.84	ACCO	Acco Brands	Pair Corr
0.71	PPERF	Bank Mandiri Persero	Pair Corr
0.65	WF	Woori Financial Group	Pair Corr
0.7	KGC	Kinross Gold Aggressive Push	Pair Corr
0.63	MGDDY	Compagnie Generale des	Pair Corr
0.82	RKLB	Rocket Lab USA Potential Growth	Pair Corr
0.71	SIFY	Sify Technologies	Pair Corr
0.84	RPDL	Rapid Line	Pair Corr
0.75	C	Citigroup	Pair Corr
0.73	ORXCF	ORIX	Pair Corr
0.75	ZIJMF	Zijin Mining Group	Pair Corr
0.65	AEM	Agnico Eagle Mines	Pair Corr
0.64	SGML	Sigma Lithium Resources Upward Rally	Pair Corr
0.68	HLT	Hilton Worldwide Holdings	Pair Corr
0.63	AMBR	Amber International Symbol Change	Pair Corr
0.62	CXMSF	CEMEX SAB de	Pair Corr

Moving against CoreCivic Stock

0.71	PBCRY	Bank Central Asia	Pair Corr
0.54	AUHIF	Advance United Holdings	Pair Corr
0.47	BKRKF	PT Bank Rakyat	Pair Corr
0.38	PBCRF	PT Bank Central	Pair Corr
0.45	FSLY	Fastly Class A	Pair Corr

Related Correlations Analysis

	EPR	ADC	IVT	ESRT	DX	LTC	PEB
EPR		0.31	0.57	-0.11	0.52	0.65	0.53	EPR
ADC	0.31		-0.2	0.46	-0.28	0.27	-0.37	ADC
IVT	0.57	-0.2		-0.36	0.64	0.21	0.72	IVT
ESRT	-0.11	0.46	-0.36		-0.71	-0.18	-0.61	ESRT
DX	0.52	-0.28	0.64	-0.71		0.5	0.84	DX
LTC	0.65	0.27	0.21	-0.18	0.5		0.4	LTC
PEB	0.53	-0.37	0.72	-0.61	0.84	0.4		PEB
	EPR	ADC	IVT	ESRT	DX	LTC	PEB

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

PEB	+ 0.84	DX
PEB	+ 0.72	IVT
LTC	+ 0.65	EPR
DX	+ 0.64	IVT
IVT	+ 0.57	EPR
PEB	+ 0.53	EPR

High negative correlations

DX	- 0.71	ESRT
PEB	- 0.61	ESRT
PEB	- 0.37	ADC
ESRT	- 0.36	IVT
DX	- 0.28	ADC
IVT	- 0.2	ADC

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EPR	0.90	(0.01)	(0.05)	(0.11)	1.50	(0.80)	1.90	(1.60)	6.05
ADC	0.57	(0.05)	0.00	1.52	0.00	0.00	1.23	(1.37)	3.42
IVT	0.75	0.04	(0.02)	0.28	0.91	(0.78)	1.79	(1.28)	4.65
ESRT	1.65	(0.17)	0.00	(0.09)	0.00	0.00	3.23	(3.19)	12.03
DX	0.70	0.17	0.17	0.50	0.49	(0.84)	1.89	(1.08)	3.57
LTC	0.72	0.08	0.00	(0.51)	0.90	(0.78)	1.49	(1.59)	4.34
PEB	1.56	0.11	0.07	0.18	1.31	(2.02)	4.19	(2.25)	11.55

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