|
|
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 |
| |
-0.282539 |
| |
-0.282557 |
| |
-0.282611 |
| |
-0.282681 |
| |
-0.282688 |
| |
-0.282693 |
| |
-0.282744 |
| |
-0.282764 |
| |
-0.282795 |
| |
-0.282905 |
| |
-0.282947 |
| |
-0.283059 |
| |
-0.283102 |
| |
-0.283176 |
| |
-0.283271 |
| |
-0.283319 |
| |
-0.283475 |
| |
-0.283557 |
| |
-0.283557 |
| |
-0.283557 |
| |
-0.283567 |
| |
-0.283645 |
| |
-0.283656 |
| |
-0.283757 |
| |
-0.283785 |
|
|
|
|
|
 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.
|
