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