|
|
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 |
| |
-0.067521 |
| |
-0.067579 |
| |
-0.067618 |
| |
-0.067664 |
| |
-0.067900 |
| |
-0.067906 |
| |
-0.067930 |
| |
-0.068120 |
| |
-0.068141 |
| |
-0.068216 |
| |
-0.068491 |
| |
-0.068770 |
| |
-0.068835 |
| |
-0.068864 |
| |
-0.068870 |
| |
-0.069068 |
| |
-0.069071 |
| |
-0.069095 |
| |
-0.069147 |
| |
-0.069280 |
| |
-0.069288 |
| |
-0.069293 |
| |
-0.069353 |
| |
-0.069379 |
| |
-0.069497 |
|
|
|
|
|
 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.
|
