|
|
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 |
| |
-0.054735 |
| |
-0.054931 |
| |
-0.055052 |
| |
-0.055161 |
| |
-0.055250 |
| |
-0.055409 |
| |
-0.055420 |
| |
-0.055430 |
| |
-0.055480 |
| |
-0.055496 |
| |
-0.055550 |
| |
-0.055648 |
| |
-0.055686 |
| |
-0.055874 |
| |
-0.055886 |
| |
-0.056179 |
| |
-0.056356 |
| |
-0.056543 |
| |
-0.056554 |
| |
-0.056637 |
| |
-0.056673 |
| |
-0.056711 |
| |
-0.056917 |
| |
-0.056952 |
| |
-0.056975 |
|
|
|
|
|
 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.
|
