|
|
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 |
| |
-0.576638 |
| |
-0.576687 |
| |
-0.576729 |
| |
-0.576731 |
| |
-0.576753 |
| |
-0.576803 |
| |
-0.576834 |
| |
-0.576840 |
| |
-0.576854 |
| |
-0.576854 |
| |
-0.576868 |
| |
-0.576890 |
| |
-0.576903 |
| |
-0.576947 |
| |
-0.576983 |
| |
-0.577003 |
| |
-0.577012 |
| |
-0.577032 |
| |
-0.577161 |
| |
-0.577162 |
| |
-0.577184 |
| |
-0.577184 |
| |
-0.577189 |
| |
-0.577189 |
| |
-0.577205 |
|
|
|
|
|
 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.
|
