|
|
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 |
| |
-0.306528 |
| |
-0.306534 |
| |
-0.306560 |
| |
-0.306802 |
| |
-0.306826 |
| |
-0.306826 |
| |
-0.306864 |
| |
-0.306889 |
| |
-0.306973 |
| |
-0.307031 |
| |
-0.307149 |
| |
-0.307191 |
| |
-0.307237 |
| |
-0.307396 |
| |
-0.307437 |
| |
-0.307500 |
| |
-0.307602 |
| |
-0.307615 |
| |
-0.307734 |
| |
-0.307749 |
| |
-0.307761 |
| |
-0.307784 |
| |
-0.307944 |
| |
-0.307956 |
| |
-0.307966 |
|
|
|
|
|
 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.
|
