|
|
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 |
| |
-0.285288 |
| |
-0.285353 |
| |
-0.285353 |
| |
-0.285390 |
| |
-0.285548 |
| |
-0.285623 |
| |
-0.285663 |
| |
-0.285675 |
| |
-0.285785 |
| |
-0.285834 |
| |
-0.285902 |
| |
-0.285937 |
| |
-0.286034 |
| |
-0.286054 |
| |
-0.286059 |
| |
-0.286108 |
| |
-0.286163 |
| |
-0.286172 |
| |
-0.286219 |
| |
-0.286369 |
| |
-0.286416 |
| |
-0.286475 |
| |
-0.286542 |
| |
-0.286612 |
| |
-0.286638 |
|
|
|
|
|
 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.
|
