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