|
|
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 |
| |
-0.205668 |
| |
-0.205683 |
| |
-0.205761 |
| |
-0.205945 |
| |
-0.206111 |
| |
-0.206129 |
| |
-0.206153 |
| |
-0.206275 |
| |
-0.206327 |
| |
-0.206374 |
| |
-0.206431 |
| |
-0.206446 |
| |
-0.206469 |
| |
-0.206535 |
| |
-0.206545 |
| |
-0.206586 |
| |
-0.206697 |
| |
-0.206821 |
| |
-0.206845 |
| |
-0.206896 |
| |
-0.206905 |
| |
-0.206908 |
| |
-0.207161 |
| |
-0.207178 |
| |
-0.207303 |
|
|
|
|
|
 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.
|
