|
|
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 |
| |
-0.405878 |
| |
-0.406010 |
| |
-0.406189 |
| |
-0.406236 |
| |
-0.406256 |
| |
-0.406312 |
| |
-0.406353 |
| |
-0.406377 |
| |
-0.406401 |
| |
-0.406520 |
| |
-0.406648 |
| |
-0.406671 |
| |
-0.406703 |
| |
-0.406815 |
| |
-0.406922 |
| |
-0.406939 |
| |
-0.407129 |
| |
-0.407158 |
| |
-0.407185 |
| |
-0.407208 |
| |
-0.407211 |
| |
-0.407379 |
| |
-0.407417 |
| |
-0.407426 |
| |
-0.407508 |
|
|
|
|
|
 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.
|
