|
|
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 |
| |
-0.257954 |
| |
-0.257963 |
| |
-0.258021 |
| |
-0.258040 |
| |
-0.258117 |
| |
-0.258133 |
| |
-0.258144 |
| |
-0.258208 |
| |
-0.258233 |
| |
-0.258331 |
| |
-0.258332 |
| |
-0.258338 |
| |
-0.258340 |
| |
-0.258348 |
| |
-0.258365 |
| |
-0.258517 |
| |
-0.258586 |
| |
-0.258647 |
| |
-0.258735 |
| |
-0.258785 |
| |
-0.258860 |
| |
-0.258872 |
| |
-0.258878 |
| |
-0.258997 |
| |
-0.259042 |
|
|
|
|
|
 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.
|
