Corning Incorporated Correlations

GLW Stock

USD 145.25 5.74 4.11%

The current 90-days correlation between Corning Incorporated and TE Connectivity is 0.65 (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

Poor diversification

The correlation between Corning Incorporated and DJI is 0.66 (i.e., Poor 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

0.89	Q	Qnity Electronics Earnings Call This Week	Pair Corr
0.92	KN	Knowles Cor	Pair Corr
0.93	LFS	Littelfuse	Pair Corr
0.87	PX4	Plexus Corp	Pair Corr
0.64	AN1	Anritsu	Pair Corr
0.93	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.7	PRHA	Prosegur Compaa de Earnings Call This Week	Pair Corr
0.71	SATLW	Satellogic Warrant	Pair Corr
0.88	MKT	MKS Instruments	Pair Corr
0.95	VNI	Avnet Inc	Pair Corr
0.9	BRV	Brady	Pair Corr
0.8	H7B	COHERENT CORP	Pair Corr
0.73	BAERW	Bridger Aerospace	Pair Corr
0.7	MLI	MESA LABS INC	Pair Corr

Moving against Corning Stock

0.9	EBON	Ebang International	Pair Corr
0.6	KE	Kimball Electronics	Pair Corr
0.47	OBD	Obducat AB	Pair Corr
0.41	AMPGW	AmpliTech Group	Pair Corr
0.72	EHGO	Eshallgo Class A	Pair Corr
0.66	EVLV	Evolv Technologies Earnings Call This Week	Pair Corr
0.45	OTK	Otsuka	Pair Corr
0.37	ELSE	Electro Sensors	Pair Corr
0.68	SC3	ScanSource	Pair Corr
0.59	FCUV	Focus Universal Earnings Call Tomorrow	Pair Corr
0.55	WRAP	Wrap Technologies Earnings Call This Week	Pair Corr
0.55	GEG	GEO Group	Pair Corr
0.34	HHP2	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	TEL	MSTR	SNPS	MSI	RBLX	ADSK	FTNT	CLS	INFY	KEYS
TEL		0.31	0.44	-0.01	0.23	0.13	-0.07	0.35	0.08	0.16	TEL
MSTR	0.31		0.09	-0.81	0.92	0.8	-0.08	0.52	0.54	-0.76	MSTR
SNPS	0.44	0.09		-0.11	-0.12	0.11	-0.27	0.19	0.52	0.23	SNPS
MSI	-0.01	-0.81	-0.11		-0.83	-0.93	0.1	-0.37	-0.77	0.81	MSI
RBLX	0.23	0.92	-0.12	-0.83		0.84	0.05	0.52	0.46	-0.78	RBLX
ADSK	0.13	0.8	0.11	-0.93	0.84		0.01	0.39	0.67	-0.75	ADSK
FTNT	-0.07	-0.08	-0.27	0.1	0.05	0.01		0.14	-0.25	0.22	FTNT
CLS	0.35	0.52	0.19	-0.37	0.52	0.39	0.14		0.24	-0.12	CLS
INFY	0.08	0.54	0.52	-0.77	0.46	0.67	-0.25	0.24		-0.49	INFY
KEYS	0.16	-0.76	0.23	0.81	-0.78	-0.75	0.22	-0.12	-0.49		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

RBLX	+ 0.92	MSTR
ADSK	+ 0.84	RBLX
KEYS	+ 0.81	MSI
ADSK	+ 0.8	MSTR
INFY	+ 0.67	ADSK
INFY	+ 0.54	MSTR

High negative correlations

ADSK	- 0.93	MSI
RBLX	- 0.83	MSI
MSI	- 0.81	MSTR
KEYS	- 0.78	RBLX
INFY	- 0.77	MSI
KEYS	- 0.76	MSTR

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	1.53	(0.08)	(0.02)	0.00	2.45	(1.50)	3.35	(3.90)	9.14
MSTR	4.06	(0.70)	0.00	(0.23)	0.00	0.00	5.82	(8.14)	31.33
SNPS	1.92	0.05	0.03	0.10	2.72	(1.85)	4.01	(4.35)	13.31
MSI	0.88	0.32	0.31	(4.23)	0.43	(1.11)	1.83	(1.20)	9.02
RBLX	2.76	(0.74)	0.00	(0.55)	0.00	0.00	4.71	(6.43)	23.70
ADSK	1.49	(0.38)	0.00	0.94	0.00	0.00	2.14	(4.51)	10.57
FTNT	1.58	(0.18)	0.00	(0.11)	0.00	0.00	2.92	(3.90)	9.70
CLS	3.64	(0.02)	0.00	0.04	5.46	(3.31)	6.90	(7.56)	28.27
INFY	2.06	(0.32)	0.00	(0.23)	0.00	0.00	4.32	(5.12)	20.28
KEYS	1.32	0.42	0.27	0.35	1.15	(1.54)	2.87	(2.66)	13.60

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