|
|
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 |
| |
-0.132201 |
| |
-0.132298 |
| |
-0.132309 |
| |
-0.132327 |
| |
-0.132331 |
| |
-0.132415 |
| |
-0.132432 |
| |
-0.132441 |
| |
-0.132453 |
| |
-0.132498 |
| |
-0.132584 |
| |
-0.132633 |
| |
-0.132647 |
| |
-0.132671 |
| |
-0.132722 |
| |
-0.132738 |
| |
-0.132764 |
| |
-0.132771 |
| |
-0.132788 |
| |
-0.132795 |
| |
-0.132998 |
| |
-0.132998 |
| |
-0.133003 |
| |
-0.133017 |
| |
-0.133161 |
|
|
|
|
|
 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.
|
