|
|
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 |
| |
-0.378891 |
| |
-0.378950 |
| |
-0.378974 |
| |
-0.379006 |
| |
-0.379026 |
| |
-0.379044 |
| |
-0.379102 |
| |
-0.379114 |
| |
-0.379171 |
| |
-0.379223 |
| |
-0.379270 |
| |
-0.379323 |
| |
-0.379335 |
| |
-0.379397 |
| |
-0.379456 |
| |
-0.379507 |
| |
-0.379522 |
| |
-0.379529 |
| |
-0.379550 |
| |
-0.379704 |
| |
-0.379770 |
| |
-0.379835 |
| |
-0.379843 |
| |
-0.379898 |
| |
-0.379971 |
|
|
|
|
|
 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.
|
