|
|
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 |
| |
-0.106039 |
| |
-0.106141 |
| |
-0.106169 |
| |
-0.106235 |
| |
-0.106287 |
| |
-0.106323 |
| |
-0.106472 |
| |
-0.106484 |
| |
-0.106704 |
| |
-0.106742 |
| |
-0.106814 |
| |
-0.106961 |
| |
-0.107061 |
| |
-0.107319 |
| |
-0.107427 |
| |
-0.107475 |
| |
-0.107582 |
| |
-0.107626 |
| |
-0.107779 |
| |
-0.107916 |
| |
-0.107916 |
| |
-0.108026 |
| |
-0.108030 |
| |
-0.108036 |
| |
-0.108052 |
|
|
|
|
|
 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.
|
