|
|
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 |
| |
-0.309875 |
| |
-0.310041 |
| |
-0.310059 |
| |
-0.310060 |
| |
-0.310122 |
| |
-0.310122 |
| |
-0.310139 |
| |
-0.310165 |
| |
-0.310173 |
| |
-0.310184 |
| |
-0.310309 |
| |
-0.310340 |
| |
-0.310410 |
| |
-0.310448 |
| |
-0.310574 |
| |
-0.310579 |
| |
-0.310687 |
| |
-0.310710 |
| |
-0.310789 |
| |
-0.310861 |
| |
-0.310861 |
| |
-0.310961 |
| |
-0.311024 |
| |
-0.311103 |
| |
-0.311117 |
|
|
|
|
|
 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.
|
