|
|
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 |
| |
-0.549781 |
| |
-0.549866 |
| |
-0.549874 |
| |
-0.549902 |
| |
-0.549911 |
| |
-0.549945 |
| |
-0.550023 |
| |
-0.550029 |
| |
-0.550034 |
| |
-0.550047 |
| |
-0.550052 |
| |
-0.550065 |
| |
-0.550080 |
| |
-0.550176 |
| |
-0.550231 |
| |
-0.550231 |
| |
-0.550312 |
| |
-0.550324 |
| |
-0.550338 |
| |
-0.550338 |
| |
-0.550397 |
| |
-0.550425 |
| |
-0.550427 |
| |
-0.550469 |
| |
-0.550476 |
|
|
|
|
|
 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.
|
