|
|
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 |
| |
-0.383152 |
| |
-0.383194 |
| |
-0.383223 |
| |
-0.383247 |
| |
-0.383264 |
| |
-0.383295 |
| |
-0.383323 |
| |
-0.383350 |
| |
-0.383436 |
| |
-0.383558 |
| |
-0.383570 |
| |
-0.383726 |
| |
-0.383727 |
| |
-0.383816 |
| |
-0.383824 |
| |
-0.383842 |
| |
-0.383865 |
| |
-0.383926 |
| |
-0.383926 |
| |
-0.383938 |
| |
-0.383946 |
| |
-0.383986 |
| |
-0.383989 |
| |
-0.384017 |
| |
-0.384106 |
|
|
|
|
|
 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.
|
