|
|
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 |
| |
-0.074206 |
| |
-0.074239 |
| |
-0.074253 |
| |
-0.074379 |
| |
-0.074463 |
| |
-0.074549 |
| |
-0.074549 |
| |
-0.074708 |
| |
-0.074732 |
| |
-0.074939 |
| |
-0.074972 |
| |
-0.075171 |
| |
-0.075376 |
| |
-0.075511 |
| |
-0.075616 |
| |
-0.075777 |
| |
-0.075796 |
| |
-0.075894 |
| |
-0.075959 |
| |
-0.075998 |
| |
-0.076126 |
| |
-0.076151 |
| |
-0.076461 |
| |
-0.076623 |
| |
-0.076784 |
|
|
|
|
|
 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.
|
