CoreCivic Correlations

CXW Stock

USD 18.92 1.06 5.94%

The current 90-days correlation between CoreCivic and EPR Properties is 0.33 (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

Poor diversification

The correlation between CoreCivic and DJI is 0.69 (i.e., 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

0.71	ACU	Acme United	Pair Corr
0.64	DXT	Dexterra Group	Pair Corr
0.62	BCO	Brinks Company	Pair Corr
0.81	GEO	Geo Group Earnings Call This Week	Pair Corr
0.79	PBI	Pitney Bowes Earnings Call This Week	Pair Corr
0.62	UNF	Unifirst	Pair Corr
0.7	RTO1	Rentokil Initial plc	Pair Corr
0.76	RWJ1	RWS HOLDINGS PLC	Pair Corr

Moving against CoreCivic Stock

0.49	MAD	Mader Group Earnings Call Next Week	Pair Corr
0.41	VIRC	Virco Manufacturing	Pair Corr
0.38	KBL	K Bro Linen	Pair Corr
0.63	T9CA	TEAM INC DL	Pair Corr
0.63	N09	NOVUS HOLDINGS LTD	Pair Corr
0.55	P8X	PAX Global Technology	Pair Corr
0.47	APC	Apple Inc	Pair Corr
0.42	PHQ	Photo Me International Earnings Call This Week	Pair Corr
0.36	SW	Sodexo SA	Pair Corr
0.33	YIBO	Planet Image Interna	Pair Corr

Related Correlations Analysis

	EPR	ADC	IVT	ESRT	DX	LTC	PEB
EPR		0.6	0.83	-0.39	0.63	0.91	0.75	EPR
ADC	0.6		0.45	0.06	0.06	0.73	0.29	ADC
IVT	0.83	0.45		-0.39	0.56	0.7	0.75	IVT
ESRT	-0.39	0.06	-0.39		-0.5	-0.2	-0.48	ESRT
DX	0.63	0.06	0.56	-0.5		0.49	0.63	DX
LTC	0.91	0.73	0.7	-0.2	0.49		0.65	LTC
PEB	0.75	0.29	0.75	-0.48	0.63	0.65		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

LTC	+ 0.91	EPR
IVT	+ 0.83	EPR
PEB	+ 0.75	EPR
PEB	+ 0.75	IVT
LTC	+ 0.73	ADC
LTC	+ 0.7	IVT

High negative correlations

DX	- 0.5	ESRT
PEB	- 0.48	ESRT
ESRT	- 0.39	IVT
ESRT	- 0.39	EPR
LTC	- 0.2	ESRT

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	0.88	0.23	0.15	(22.60)	0.79	(0.94)	2.02	(1.59)	5.27
ADC	0.74	0.12	0.04	(0.42)	0.88	(0.77)	1.63	(1.83)	4.86
IVT	0.78	0.18	0.15	1.57	0.57	(0.90)	1.99	(1.19)	4.65
ESRT	1.58	(0.27)	0.00	(0.25)	0.00	0.00	2.81	(3.19)	10.07
DX	0.73	0.08	0.04	0.35	0.94	(0.84)	1.75	(1.07)	7.50
LTC	0.86	0.16	0.09	(0.62)	0.87	(1.02)	1.98	(1.62)	4.37
PEB	1.52	0.09	0.07	0.14	1.38	(1.90)	4.12	(2.35)	8.43

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