|
|
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 |
| |
-0.260686 |
| |
-0.260789 |
| |
-0.260885 |
| |
-0.260889 |
| |
-0.261036 |
| |
-0.261191 |
| |
-0.261261 |
| |
-0.261263 |
| |
-0.261263 |
| |
-0.261278 |
| |
-0.261326 |
| |
-0.261358 |
| |
-0.261363 |
| |
-0.261372 |
| |
-0.261416 |
| |
-0.261516 |
| |
-0.261584 |
| |
-0.261646 |
| |
-0.261740 |
| |
-0.262020 |
| |
-0.262037 |
| |
-0.262039 |
| |
-0.262068 |
| |
-0.262222 |
| |
-0.262249 |
|
|
|
|
|
 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.
|
