|
|
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 |
| |
-0.079566 |
| |
-0.079574 |
| |
-0.079610 |
| |
-0.079666 |
| |
-0.079669 |
| |
-0.079681 |
| |
-0.079825 |
| |
-0.079867 |
| |
-0.079995 |
| |
-0.079996 |
| |
-0.080024 |
| |
-0.080086 |
| |
-0.080105 |
| |
-0.080152 |
| |
-0.080153 |
| |
-0.080196 |
| |
-0.080404 |
| |
-0.080444 |
| |
-0.080462 |
| |
-0.080500 |
| |
-0.080529 |
| |
-0.080546 |
| |
-0.080554 |
| |
-0.080599 |
| |
-0.080599 |
|
|
|
|
|
 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.
|
