|
|
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 |
| |
-0.299794 |
| |
-0.300010 |
| |
-0.300023 |
| |
-0.300042 |
| |
-0.300060 |
| |
-0.300202 |
| |
-0.300254 |
| |
-0.300283 |
| |
-0.300353 |
| |
-0.300386 |
| |
-0.300394 |
| |
-0.300437 |
| |
-0.300824 |
| |
-0.300858 |
| |
-0.300884 |
| |
-0.300960 |
| |
-0.300996 |
| |
-0.301069 |
| |
-0.301231 |
| |
-0.301251 |
| |
-0.301290 |
| |
-0.301368 |
| |
-0.301454 |
| |
-0.301477 |
| |
-0.301559 |
|
|
|
|
|
 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.
|
