Corning Incorporated Correlations

GLW Stock

USD 88.30 0.39 0.44%

The current 90-days correlation between Corning Incorporated and TE Connectivity is 0.78 (i.e., Poor diversification). The correlation of Corning Incorporated 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.

Corning Incorporated Correlation With Market

Very weak diversification

The correlation between Corning Incorporated and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Corning Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Corning Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Corning Incorporated. 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 information on how to buy Corning Stock please use our How to Invest in Corning Incorporated guide.

Moving together with Corning Stock

0.62	301321	Highbroad Advanced	Pair Corr
0.84	FLEX	Flex	Pair Corr

Moving against Corning Stock

0.62	002175	Oriental Times Media	Pair Corr
0.31	300333	Sinosun Tech	Pair Corr
0.4	600082	Tianjin Hi Tech	Pair Corr
0.32	SNT	Sabien Technology	Pair Corr

Related Correlations Analysis

	TEL	MSTR	SNPS	MSI	RBLX	ADSK	FTNT	CLS	INFY	KEYS
TEL		-0.19	-0.15	-0.31	-0.2	-0.17	0.15	0.79	0.08	0.3	TEL
MSTR	-0.19		0.14	0.94	0.94	0.74	0.75	-0.51	-0.77	-0.79	MSTR
SNPS	-0.15	0.14		0.3	0.07	0.45	0.29	-0.32	0.31	0.31	SNPS
MSI	-0.31	0.94	0.3		0.92	0.71	0.65	-0.63	-0.63	-0.77	MSI
RBLX	-0.2	0.94	0.07	0.92		0.66	0.71	-0.44	-0.75	-0.84	RBLX
ADSK	-0.17	0.74	0.45	0.71	0.66		0.79	-0.44	-0.35	-0.34	ADSK
FTNT	0.15	0.75	0.29	0.65	0.71	0.79		-0.12	-0.5	-0.39	FTNT
CLS	0.79	-0.51	-0.32	-0.63	-0.44	-0.44	-0.12		0.21	0.48	CLS
INFY	0.08	-0.77	0.31	-0.63	-0.75	-0.35	-0.5	0.21		0.74	INFY
KEYS	0.3	-0.79	0.31	-0.77	-0.84	-0.34	-0.39	0.48	0.74		KEYS
	TEL	MSTR	SNPS	MSI	RBLX	ADSK	FTNT	CLS	INFY	KEYS

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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

MSI	+ 0.94	MSTR
RBLX	+ 0.94	MSTR
RBLX	+ 0.92	MSI
CLS	+ 0.79	TEL
FTNT	+ 0.79	ADSK
FTNT	+ 0.75	MSTR

High negative correlations

KEYS	- 0.84	RBLX
KEYS	- 0.79	MSTR
KEYS	- 0.77	MSI
INFY	- 0.77	MSTR
INFY	- 0.75	RBLX
INFY	- 0.63	MSI

Risk-Adjusted Indicators

There is a big difference between Corning Stock performing well and Corning Incorporated 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 Corning Incorporated'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
TEL	1.22	(0.03)	0.00	0.05	2.20	(1.18)	2.24	(3.55)	9.90
MSTR	3.32	(1.16)	0.00	(0.50)	0.00	0.00	5.01	(7.55)	15.68
SNPS	1.69	(0.08)	(0.01)	0.02	2.70	(1.60)	3.78	(3.61)	11.80
MSI	0.91	(0.29)	0.00	(0.70)	0.00	0.00	1.52	(2.19)	7.63
RBLX	2.09	(0.77)	0.00	(1.12)	0.00	0.00	3.38	(5.82)	19.47
ADSK	1.00	(0.20)	0.00	(0.16)	0.00	0.00	1.64	(2.48)	6.14
FTNT	1.27	(0.20)	0.00	(0.13)	0.00	0.00	1.87	(3.65)	8.99
CLS	3.72	0.16	0.05	0.14	5.07	(3.76)	7.89	(7.56)	27.95
INFY	1.53	0.10	0.04	0.22	1.68	(1.73)	3.54	(2.59)	10.66
KEYS	1.48	0.16	0.10	0.15	1.94	(1.59)	2.87	(3.09)	13.11

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