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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.
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| Symbol | Correlation |
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-0.374219 |
| |
-0.374220 |
| |
-0.374335 |
| |
-0.374391 |
| |
-0.374398 |
| |
-0.374415 |
| |
-0.374479 |
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-0.374499 |
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-0.374553 |
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-0.374624 |
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-0.374624 |
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-0.374761 |
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-0.374820 |
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-0.374857 |
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-0.375080 |
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-0.375139 |
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-0.375235 |
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-0.375235 |
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-0.375323 |
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-0.375355 |
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-0.375372 |
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-0.375540 |
| |
-0.375613 |
| |
-0.375633 |
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-0.375641 |
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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.
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