|
|
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 |
| |
-0.080715 |
| |
-0.080742 |
| |
-0.080760 |
| |
-0.080792 |
| |
-0.080798 |
| |
-0.080832 |
| |
-0.080871 |
| |
-0.080873 |
| |
-0.080948 |
| |
-0.081069 |
| |
-0.081106 |
| |
-0.081170 |
| |
-0.081259 |
| |
-0.081385 |
| |
-0.081385 |
| |
-0.081399 |
| |
-0.081409 |
| |
-0.081411 |
| |
-0.081477 |
| |
-0.081513 |
| |
-0.081589 |
| |
-0.081708 |
| |
-0.081714 |
| |
-0.081769 |
| |
-0.081839 |
|
|
|
|
|
 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.
|
