|
|
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 |
| |
-0.076418 |
| |
-0.076443 |
| |
-0.076456 |
| |
-0.076480 |
| |
-0.076544 |
| |
-0.076685 |
| |
-0.076915 |
| |
-0.076920 |
| |
-0.076953 |
| |
-0.076966 |
| |
-0.076977 |
| |
-0.076997 |
| |
-0.077053 |
| |
-0.077239 |
| |
-0.077297 |
| |
-0.077572 |
| |
-0.077689 |
| |
-0.077730 |
| |
-0.077800 |
| |
-0.077818 |
| |
-0.077881 |
| |
-0.077957 |
| |
-0.078055 |
| |
-0.078124 |
| |
-0.078137 |
|
|
|
|
|
 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.
|
