|
|
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 |
| |
-0.546768 |
| |
-0.546804 |
| |
-0.546829 |
| |
-0.546898 |
| |
-0.546902 |
| |
-0.546907 |
| |
-0.546993 |
| |
-0.547051 |
| |
-0.547076 |
| |
-0.547152 |
| |
-0.547197 |
| |
-0.547207 |
| |
-0.547213 |
| |
-0.547229 |
| |
-0.547229 |
| |
-0.547289 |
| |
-0.547332 |
| |
-0.547332 |
| |
-0.547371 |
| |
-0.547458 |
| |
-0.547465 |
| |
-0.547528 |
| |
-0.547564 |
| |
-0.547567 |
| |
-0.547635 |
|
|
|
|
|
 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.
|
