|
|
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 |
| |
-0.255800 |
| |
-0.255808 |
| |
-0.255850 |
| |
-0.255909 |
| |
-0.255990 |
| |
-0.256075 |
| |
-0.256236 |
| |
-0.256382 |
| |
-0.256383 |
| |
-0.256489 |
| |
-0.256493 |
| |
-0.256642 |
| |
-0.256675 |
| |
-0.257141 |
| |
-0.257141 |
| |
-0.257150 |
| |
-0.257202 |
| |
-0.257224 |
| |
-0.257242 |
| |
-0.257253 |
| |
-0.257307 |
| |
-0.257320 |
| |
-0.257328 |
| |
-0.257350 |
| |
-0.257417 |
|
|
|
|
|
 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.
|
