CoreCivic Correlations

CXW Stock

USD 22.01 0.21 0.96%

The current 90-days correlation between CoreCivic and MSA Safety is 0.31 (i.e., Weak 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 weak diversification

The correlation between CoreCivic and DJI is 0.53 (i.e., Very 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.

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

0.9	DRVN	Driven Brands Holdings	Pair Corr
0.93	KAR	KAR Auction Services	Pair Corr
0.62	UNF	Unifirst	Pair Corr
0.82	IIIV	i3 Verticals	Pair Corr
0.96	INOD	Innodata Tech Boost	Pair Corr
0.91	PYCR	Paycor HCM	Pair Corr
0.78	SPIR	Spire Global Symbol Change	Pair Corr
0.78	TASK	Taskus Inc	Pair Corr
0.84	CASS	Cass Information Systems Fiscal Year End 23rd of January 2025	Pair Corr
0.95	CSGS	CSG Systems International	Pair Corr
0.85	R	Ryder System	Pair Corr
0.86	DIST	Distoken Acquisition	Pair Corr
0.86	AL	Air Lease	Pair Corr
0.79	AZ	A2Z Smart Technologies	Pair Corr
0.74	BE	Bloom Energy Corp	Pair Corr
0.88	CR	Crane Company	Pair Corr
0.69	CW	Curtiss Wright	Pair Corr

Moving against CoreCivic Stock

0.72	CVEO	Civeo Corp	Pair Corr
0.64	PFMT	Performant Financial	Pair Corr
0.56	MMS	Maximus	Pair Corr
0.51	FA	First Advantage Corp	Pair Corr
0.45	WHLM	Wilhelmina	Pair Corr
0.34	AP	Ampco Pittsburgh	Pair Corr
0.73	CP	Canadian Pacific Railway	Pair Corr
0.7	HY	Hyster Yale Materials	Pair Corr
0.69	MG	Mistras Group	Pair Corr
0.67	FC	Franklin Covey	Pair Corr
0.55	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.54	SB	Safe Bulkers Potential Growth	Pair Corr
0.53	OP	Oceanpal	Pair Corr
0.42	RR	Richtech Robotics Class	Pair Corr

Related Correlations Analysis

	ADT	NL	MG	EVLV	CIX	MSA	BCO	REZI	ALLE
ADT		0.3	-0.5	-0.56	0.06	-0.02	-0.57	0.56	-0.23	ADT
NL	0.3		-0.36	-0.45	0.65	-0.44	-0.37	0.61	0.61	NL
MG	-0.5	-0.36		0.8	0.0	0.34	0.77	-0.58	0.29	MG
EVLV	-0.56	-0.45	0.8		-0.08	0.53	0.74	-0.53	0.31	EVLV
CIX	0.06	0.65	0.0	-0.08		-0.1	0.06	0.18	0.55	CIX
MSA	-0.02	-0.44	0.34	0.53	-0.1		0.42	-0.08	-0.07	MSA
BCO	-0.57	-0.37	0.77	0.74	0.06	0.42		-0.76	0.31	BCO
REZI	0.56	0.61	-0.58	-0.53	0.18	-0.08	-0.76		0.08	REZI
ALLE	-0.23	0.61	0.29	0.31	0.55	-0.07	0.31	0.08		ALLE
	ADT	NL	MG	EVLV	CIX	MSA	BCO	REZI	ALLE

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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

EVLV	+ 0.8	MG
BCO	+ 0.77	MG
BCO	+ 0.74	EVLV
CIX	+ 0.65	NL
REZI	+ 0.61	NL
ALLE	+ 0.61	NL

High negative correlations

REZI	- 0.76	BCO
REZI	- 0.58	MG
BCO	- 0.57	ADT
EVLV	- 0.56	ADT
REZI	- 0.53	EVLV
MG	- 0.5	ADT

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
ADT	1.47	(0.02)	(0.02)	0.09	1.89	(1.70)	2.53	(3.19)	24.10
NL	2.05	0.16	0.09	0.20	2.81	(2.09)	4.35	(5.52)	16.96
MG	2.35	(0.55)	0.00	(0.12)	0.00	0.00	4.10	(4.10)	29.26
EVLV	3.90	(0.53)	(0.01)	0.00	7.66	(4.18)	10.23	(6.35)	52.50
CIX	2.92	(0.20)	0.00	0.04	3.94	(3.14)	5.68	(5.79)	22.54
MSA	1.02	(0.14)	0.00	(0.02)	0.00	0.00	2.25	(2.36)	5.96
BCO	1.21	(0.25)	0.00	(0.12)	0.00	0.00	2.77	(2.72)	7.53
REZI	1.72	0.31	0.24	0.27	1.35	(2.12)	5.22	(2.65)	11.09
ALLE	0.78	0.00	(0.04)	0.12	1.03	(0.74)	1.47	(1.79)	5.54

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