|
|
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 |
| |
-0.377463 |
| |
-0.377493 |
| |
-0.377498 |
| |
-0.377591 |
| |
-0.377598 |
| |
-0.377605 |
| |
-0.377674 |
| |
-0.377695 |
| |
-0.377729 |
| |
-0.377810 |
| |
-0.377818 |
| |
-0.377828 |
| |
-0.377911 |
| |
-0.377952 |
| |
-0.378214 |
| |
-0.378284 |
| |
-0.378330 |
| |
-0.378352 |
| |
-0.378407 |
| |
-0.378439 |
| |
-0.378500 |
| |
-0.378549 |
| |
-0.378631 |
| |
-0.378690 |
| |
-0.378693 |
|
|
|
|
|
 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.
|
