|
|
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 |
| |
-0.549196 |
| |
-0.549204 |
| |
-0.549243 |
| |
-0.549243 |
| |
-0.549360 |
| |
-0.549397 |
| |
-0.549504 |
| |
-0.549573 |
| |
-0.549637 |
| |
-0.549669 |
| |
-0.549848 |
| |
-0.549881 |
| |
-0.549922 |
| |
-0.549936 |
| |
-0.550063 |
| |
-0.550111 |
| |
-0.550126 |
| |
-0.550140 |
| |
-0.550176 |
| |
-0.550228 |
| |
-0.550471 |
| |
-0.550500 |
| |
-0.550515 |
| |
-0.550552 |
| |
-0.550640 |
|
|
|
|
|
 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.
|
