|
|
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 |
| |
-0.145270 |
| |
-0.145312 |
| |
-0.145395 |
| |
-0.145395 |
| |
-0.145409 |
| |
-0.145428 |
| |
-0.145452 |
| |
-0.145483 |
| |
-0.145614 |
| |
-0.145617 |
| |
-0.145623 |
| |
-0.145785 |
| |
-0.145925 |
| |
-0.145928 |
| |
-0.145934 |
| |
-0.146002 |
| |
-0.146016 |
| |
-0.146031 |
| |
-0.146174 |
| |
-0.146296 |
| |
-0.146300 |
| |
-0.146300 |
| |
-0.146306 |
| |
-0.146323 |
| |
-0.146382 |
|
|
|
|
|
 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.
|
