|
|
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 |
| |
-0.233324 |
| |
-0.233415 |
| |
-0.233535 |
| |
-0.233576 |
| |
-0.233618 |
| |
-0.233655 |
| |
-0.233731 |
| |
-0.233739 |
| |
-0.233993 |
| |
-0.234025 |
| |
-0.234042 |
| |
-0.234044 |
| |
-0.234071 |
| |
-0.234194 |
| |
-0.234271 |
| |
-0.234345 |
| |
-0.234387 |
| |
-0.234404 |
| |
-0.234409 |
| |
-0.234420 |
| |
-0.234648 |
| |
-0.234652 |
| |
-0.234680 |
| |
-0.234727 |
| |
-0.234805 |
|
|
|
|
|
 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.
|
