IBM Message Board - Msg: 17273826

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Technology Stocks : IBM

IBM 297.26

-2.8%

3:59 PM EST

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To: Robert Scott Diver who wrote (7563)	4/2/2002 10:20:24 AM
From: Michael Bakunin	Read Replies (1) of 8218

RSD - Let's measure it. There are a variety of ways to quantify the statement, "IBM moves according to the overall direction of the market." I'll try the correlation of daily % moves. You can get daily closes back to '62 (!) on these from Yahoo; see table.finance.yahoo.com and table.finance.yahoo.com^spc then "download spreadsheet format." I get a coefficient of 0.62, hardly the 99% correlation of near-identical stock indexes, but I think it makes the statement defensible. Put another way, in over 10,000 observations, IBM closed the same way (up/down/unch) as the S&P nearly three of every four trading days. -mb

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