|
|
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 |
| |
-0.434500 |
| |
-0.434508 |
| |
-0.434558 |
| |
-0.434559 |
| |
-0.434735 |
| |
-0.434749 |
| |
-0.434752 |
| |
-0.435029 |
| |
-0.435057 |
| |
-0.435126 |
| |
-0.435157 |
| |
-0.435168 |
| |
-0.435184 |
| |
-0.435206 |
| |
-0.435297 |
| |
-0.435361 |
| |
-0.435413 |
| |
-0.435413 |
| |
-0.435629 |
| |
-0.435643 |
| |
-0.435667 |
| |
-0.435729 |
| |
-0.435777 |
| |
-0.435851 |
| |
-0.435908 |
|
|
|
|
|
 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.
|
