Xerox Corp Correlations

XRX Stock

USD 5.07 0.12 2.42%

The current 90-days correlation between Xerox Corp and Conduent is 0.44 (i.e., Very weak diversification). The correlation of Xerox Corp 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.

Xerox Corp Correlation With Market

Weak diversification

The correlation between Xerox Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xerox Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Xerox Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Xerox Stock

0.81	CDW	CDW Corp	Pair Corr
0.75	LPL	LG Display Earnings Call This Week	Pair Corr
0.66	VSH	Vishay Intertechnology	Pair Corr
0.64	LASR	nLIGHT Inc	Pair Corr
0.67	LITE	Lumentum Holdings	Pair Corr
0.78	NTGR	NETGEAR	Pair Corr
0.75	AVNW	Aviat Networks	Pair Corr
0.68	CIEN	Ciena Corp	Pair Corr
0.69	CRNT	Ceragon Networks	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.7	MU	Micron Technology	Pair Corr
0.62	MX	MagnaChip Semiconductor	Pair Corr
0.61	ON	ON Semiconductor	Pair Corr
0.75	VRRM	Verra Mobility Corp	Pair Corr
0.78	ADI	Analog Devices	Pair Corr
0.7	ARM	Arm Holdings plc	Pair Corr
0.71	FRGE	Forge Global Holdings	Pair Corr
0.76	GFS	Globalfoundries	Pair Corr

Moving against Xerox Stock

0.52

IMTE

Integrated Media Tec Tech Boost

Pair Corr

Related Correlations Analysis

	CNDT	DXC	FIS	GLW	HPQ	IBM	KD	TXN	WDC	WU
CNDT		0.07	0.67	0.88	-0.17	0.9	0.78	0.89	0.89	-0.81	CNDT
DXC	0.07		0.2	0.0	0.32	-0.02	0.27	0.02	-0.07	0.3	DXC
FIS	0.67	0.2		0.74	0.14	0.68	0.71	0.7	0.7	-0.48	FIS
GLW	0.88	0.0	0.74		0.09	0.93	0.9	0.97	0.97	-0.85	GLW
HPQ	-0.17	0.32	0.14	0.09		0.02	0.38	0.12	0.03	0.24	HPQ
IBM	0.9	-0.02	0.68	0.93	0.02		0.87	0.94	0.95	-0.87	IBM
KD	0.78	0.27	0.71	0.9	0.38	0.87		0.9	0.85	-0.64	KD
TXN	0.89	0.02	0.7	0.97	0.12	0.94	0.9		0.98	-0.84	TXN
WDC	0.89	-0.07	0.7	0.97	0.03	0.95	0.85	0.98		-0.91	WDC
WU	-0.81	0.3	-0.48	-0.85	0.24	-0.87	-0.64	-0.84	-0.91		WU
	CNDT	DXC	FIS	GLW	HPQ	IBM	KD	TXN	WDC	WU

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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

WDC	+ 0.98	TXN
TXN	+ 0.97	GLW
WDC	+ 0.97	GLW
WDC	+ 0.95	IBM
TXN	+ 0.94	IBM
IBM	+ 0.93	GLW

High negative correlations

WU	- 0.91	WDC
WU	- 0.87	IBM
WU	- 0.85	GLW
WU	- 0.84	TXN
WU	- 0.81	CNDT
WU	- 0.64	KD

Risk-Adjusted Indicators

There is a big difference between Xerox Stock performing well and Xerox Corp 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 Xerox Corp'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
CNDT	2.41	0.19	0.07	0.28	2.85	(2.70)	5.36	(3.90)	20.35
DXC	2.11	(0.21)	0.00	(0.01)	0.00	0.00	3.69	(4.00)	9.70
FIS	1.19	0.12	0.04	0.34	1.22	(1.32)	2.41	(1.96)	11.76
GLW	0.99	0.28	0.29	0.41	0.48	(1.25)	2.91	(1.27)	6.59
HPQ	1.43	0.14	(0.01)	(0.45)	1.96	(1.59)	2.83	(2.54)	15.06
IBM	1.10	0.21	0.09	0.50	1.28	(1.15)	1.98	(1.34)	8.56
KD	1.59	0.29	0.18	0.38	1.30	(1.95)	3.99	(2.29)	14.86
TXN	1.38	0.40	0.33	0.43	0.74	(1.65)	3.95	(2.17)	11.52
WDC	1.34	0.88	0.64	1.18	0.00	(1.73)	5.25	(1.84)	10.25
WU	1.10	(0.40)	0.00	(0.27)	0.00	0.00	2.42	(2.54)	8.37

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