|
|
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 |
| |
-0.104603 |
| |
-0.104621 |
| |
-0.104670 |
| |
-0.104743 |
| |
-0.104960 |
| |
-0.104968 |
| |
-0.105074 |
| |
-0.105076 |
| |
-0.105126 |
| |
-0.105128 |
| |
-0.105169 |
| |
-0.105193 |
| |
-0.105323 |
| |
-0.105342 |
| |
-0.105441 |
| |
-0.105451 |
| |
-0.105636 |
| |
-0.105636 |
| |
-0.105670 |
| |
-0.105679 |
| |
-0.105887 |
| |
-0.105889 |
| |
-0.105912 |
| |
-0.105912 |
| |
-0.105960 |
|
|
|
|
|
 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.
|
