|
|
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 |
| |
-0.260266 |
| |
-0.260266 |
| |
-0.260340 |
| |
-0.260357 |
| |
-0.260368 |
| |
-0.260376 |
| |
-0.260548 |
| |
-0.260628 |
| |
-0.260637 |
| |
-0.260667 |
| |
-0.260880 |
| |
-0.260886 |
| |
-0.261017 |
| |
-0.261041 |
| |
-0.261095 |
| |
-0.261192 |
| |
-0.261228 |
| |
-0.261247 |
| |
-0.261352 |
| |
-0.261357 |
| |
-0.261402 |
| |
-0.261472 |
| |
-0.261559 |
| |
-0.261671 |
| |
-0.261684 |
|
|
|
|
|
 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.
|
