|
|
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 |
| |
-0.403388 |
| |
-0.403452 |
| |
-0.403455 |
| |
-0.403459 |
| |
-0.403539 |
| |
-0.403539 |
| |
-0.403684 |
| |
-0.403697 |
| |
-0.403702 |
| |
-0.403704 |
| |
-0.403757 |
| |
-0.403775 |
| |
-0.403837 |
| |
-0.403878 |
| |
-0.403901 |
| |
-0.403901 |
| |
-0.404112 |
| |
-0.404219 |
| |
-0.404225 |
| |
-0.404238 |
| |
-0.404482 |
| |
-0.404496 |
| |
-0.404554 |
| |
-0.404654 |
| |
-0.404672 |
|
|
|
|
|
 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.
|
