|
|
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 |
| |
-0.022698 |
| |
-0.023006 |
| |
-0.023016 |
| |
-0.023033 |
| |
-0.023054 |
| |
-0.023094 |
| |
-0.023140 |
| |
-0.023220 |
| |
-0.023255 |
| |
-0.023372 |
| |
-0.023379 |
| |
-0.023393 |
| |
-0.023410 |
| |
-0.023513 |
| |
-0.023527 |
| |
-0.023543 |
| |
-0.023544 |
| |
-0.023583 |
| |
-0.023590 |
| |
-0.023590 |
| |
-0.023593 |
| |
-0.023648 |
| |
-0.023666 |
| |
-0.023815 |
| |
-0.023843 |
|
|
|
|
|
 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.
|
