|
|
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 |
| |
-0.561065 |
| |
-0.561103 |
| |
-0.561132 |
| |
-0.561151 |
| |
-0.561153 |
| |
-0.561154 |
| |
-0.561189 |
| |
-0.561208 |
| |
-0.561208 |
| |
-0.561225 |
| |
-0.561336 |
| |
-0.561379 |
| |
-0.561444 |
| |
-0.561489 |
| |
-0.561514 |
| |
-0.561543 |
| |
-0.561595 |
| |
-0.561612 |
| |
-0.561710 |
| |
-0.561722 |
| |
-0.561729 |
| |
-0.561732 |
| |
-0.561796 |
| |
-0.561837 |
| |
-0.561857 |
|
|
|
|
|
 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.
|
