|
|
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 |
| |
-0.235282 |
| |
-0.235295 |
| |
-0.235480 |
| |
-0.235693 |
| |
-0.235741 |
| |
-0.235769 |
| |
-0.235844 |
| |
-0.235914 |
| |
-0.235914 |
| |
-0.235941 |
| |
-0.235951 |
| |
-0.235955 |
| |
-0.235971 |
| |
-0.236147 |
| |
-0.236293 |
| |
-0.236374 |
| |
-0.236505 |
| |
-0.236696 |
| |
-0.236743 |
| |
-0.236821 |
| |
-0.236860 |
| |
-0.236996 |
| |
-0.237025 |
| |
-0.237063 |
| |
-0.237172 |
|
|
|
|
|
 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.
|
