|
|
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 |
| |
-0.550534 |
| |
-0.550534 |
| |
-0.550564 |
| |
-0.550700 |
| |
-0.550704 |
| |
-0.550706 |
| |
-0.550723 |
| |
-0.550757 |
| |
-0.550760 |
| |
-0.550830 |
| |
-0.550839 |
| |
-0.550902 |
| |
-0.550913 |
| |
-0.550955 |
| |
-0.551001 |
| |
-0.551002 |
| |
-0.551115 |
| |
-0.551165 |
| |
-0.551236 |
| |
-0.551276 |
| |
-0.551290 |
| |
-0.551316 |
| |
-0.551347 |
| |
-0.551355 |
| |
-0.551444 |
|
|
|
|
|
 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.
|
