|
|
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 |
| |
-0.139396 |
| |
-0.139412 |
| |
-0.139420 |
| |
-0.139513 |
| |
-0.139521 |
| |
-0.139541 |
| |
-0.139647 |
| |
-0.139712 |
| |
-0.139771 |
| |
-0.139855 |
| |
-0.139900 |
| |
-0.139941 |
| |
-0.139989 |
| |
-0.140171 |
| |
-0.140262 |
| |
-0.140319 |
| |
-0.140361 |
| |
-0.140363 |
| |
-0.140367 |
| |
-0.140387 |
| |
-0.140469 |
| |
-0.140513 |
| |
-0.140698 |
| |
-0.140705 |
| |
-0.140725 |
|
|
|
|
|
 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.
|
