|
|
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 |
| |
-0.142350 |
| |
-0.142365 |
| |
-0.142381 |
| |
-0.142559 |
| |
-0.142618 |
| |
-0.142618 |
| |
-0.142645 |
| |
-0.142688 |
| |
-0.142817 |
| |
-0.142897 |
| |
-0.142941 |
| |
-0.142992 |
| |
-0.143004 |
| |
-0.143088 |
| |
-0.143132 |
| |
-0.143265 |
| |
-0.143336 |
| |
-0.143397 |
| |
-0.143401 |
| |
-0.143433 |
| |
-0.143542 |
| |
-0.143689 |
| |
-0.143741 |
| |
-0.143770 |
| |
-0.143791 |
|
|
|
|
|
 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.
|
