|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
-0.060425 |
| |
-0.060442 |
| |
-0.060444 |
| |
-0.060481 |
| |
-0.060516 |
| |
-0.060527 |
| |
-0.060544 |
| |
-0.060556 |
| |
-0.060562 |
| |
-0.060589 |
| |
-0.060673 |
| |
-0.060745 |
| |
-0.060778 |
| |
-0.060778 |
| |
-0.060799 |
| |
-0.060847 |
| |
-0.060880 |
| |
-0.060924 |
| |
-0.060930 |
| |
-0.061114 |
| |
-0.061441 |
| |
-0.061562 |
| |
-0.061622 |
| |
-0.061753 |
| |
-0.061765 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
