|
|
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 |
| |
-0.442121 |
| |
-0.442202 |
| |
-0.442258 |
| |
-0.442294 |
| |
-0.442298 |
| |
-0.442310 |
| |
-0.442367 |
| |
-0.442374 |
| |
-0.442445 |
| |
-0.442453 |
| |
-0.442468 |
| |
-0.442495 |
| |
-0.442505 |
| |
-0.442541 |
| |
-0.442581 |
| |
-0.442674 |
| |
-0.442815 |
| |
-0.442846 |
| |
-0.442920 |
| |
-0.442925 |
| |
-0.442937 |
| |
-0.443185 |
| |
-0.443213 |
| |
-0.443338 |
| |
-0.443362 |
|
|
|
|
|
 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.
|
