|
|
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 |
| |
-0.131015 |
| |
-0.131054 |
| |
-0.131192 |
| |
-0.131201 |
| |
-0.131229 |
| |
-0.131294 |
| |
-0.131327 |
| |
-0.131358 |
| |
-0.131365 |
| |
-0.131498 |
| |
-0.131567 |
| |
-0.131683 |
| |
-0.131689 |
| |
-0.131710 |
| |
-0.131736 |
| |
-0.131805 |
| |
-0.131826 |
| |
-0.131957 |
| |
-0.131977 |
| |
-0.131977 |
| |
-0.131993 |
| |
-0.131999 |
| |
-0.132065 |
| |
-0.132073 |
| |
-0.132118 |
|
|
|
|
|
 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.
|
