|
|
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 |
| |
-0.106681 |
| |
-0.106686 |
| |
-0.106686 |
| |
-0.106689 |
| |
-0.106946 |
| |
-0.106946 |
| |
-0.107157 |
| |
-0.107237 |
| |
-0.107259 |
| |
-0.107663 |
| |
-0.107681 |
| |
-0.107686 |
| |
-0.107757 |
| |
-0.107764 |
| |
-0.107764 |
| |
-0.107772 |
| |
-0.107804 |
| |
-0.107804 |
| |
-0.107823 |
| |
-0.107823 |
| |
-0.108058 |
| |
-0.108163 |
| |
-0.108282 |
| |
-0.108368 |
| |
-0.108715 |
|
|
|
|
|
 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.
|
