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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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-0.198724 |
| |
-0.198762 |
| |
-0.198769 |
| |
-0.198803 |
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-0.198883 |
| |
-0.198896 |
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-0.198899 |
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-0.198918 |
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-0.199195 |
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-0.199379 |
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-0.199464 |
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-0.199466 |
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-0.199669 |
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-0.199703 |
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-0.199729 |
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-0.199807 |
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-0.199889 |
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-0.199908 |
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-0.200100 |
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-0.200123 |
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-0.200227 |
| |
-0.200349 |
| |
-0.200375 |
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-0.200444 |
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-0.200467 |
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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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