|
|
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 |
| |
-0.312391 |
| |
-0.312506 |
| |
-0.312536 |
| |
-0.312538 |
| |
-0.312584 |
| |
-0.312606 |
| |
-0.312629 |
| |
-0.312636 |
| |
-0.312704 |
| |
-0.312720 |
| |
-0.312776 |
| |
-0.312850 |
| |
-0.313030 |
| |
-0.313131 |
| |
-0.313201 |
| |
-0.313271 |
| |
-0.313319 |
| |
-0.313323 |
| |
-0.313327 |
| |
-0.313336 |
| |
-0.313798 |
| |
-0.313829 |
| |
-0.313829 |
| |
-0.313835 |
| |
-0.313862 |
|
|
|
|
|
 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.
|
