|
|
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 |
| |
-0.226581 |
| |
-0.226592 |
| |
-0.226602 |
| |
-0.226626 |
| |
-0.226644 |
| |
-0.226691 |
| |
-0.226758 |
| |
-0.226912 |
| |
-0.227150 |
| |
-0.227228 |
| |
-0.227386 |
| |
-0.227434 |
| |
-0.227440 |
| |
-0.227495 |
| |
-0.227497 |
| |
-0.227542 |
| |
-0.227547 |
| |
-0.227632 |
| |
-0.227728 |
| |
-0.227838 |
| |
-0.227891 |
| |
-0.227903 |
| |
-0.227911 |
| |
-0.227978 |
| |
-0.228028 |
|
|
|
|
|
 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.
|
