|
|
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 |
| |
-0.275442 |
| |
-0.275450 |
| |
-0.275471 |
| |
-0.275667 |
| |
-0.275699 |
| |
-0.275752 |
| |
-0.275935 |
| |
-0.275941 |
| |
-0.275971 |
| |
-0.276068 |
| |
-0.276074 |
| |
-0.276188 |
| |
-0.276241 |
| |
-0.276256 |
| |
-0.276288 |
| |
-0.276325 |
| |
-0.276411 |
| |
-0.276479 |
| |
-0.276479 |
| |
-0.276533 |
| |
-0.276652 |
| |
-0.276870 |
| |
-0.276906 |
| |
-0.277030 |
| |
-0.277114 |
|
|
|
|
|
 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.
|
