|
|
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 |
| |
-0.037569 |
| |
-0.037574 |
| |
-0.037599 |
| |
-0.037651 |
| |
-0.037744 |
| |
-0.037757 |
| |
-0.037773 |
| |
-0.037793 |
| |
-0.037794 |
| |
-0.037892 |
| |
-0.038105 |
| |
-0.038148 |
| |
-0.038182 |
| |
-0.038247 |
| |
-0.038253 |
| |
-0.038288 |
| |
-0.038299 |
| |
-0.038380 |
| |
-0.038382 |
| |
-0.038384 |
| |
-0.038431 |
| |
-0.038431 |
| |
-0.038579 |
| |
-0.038585 |
| |
-0.038789 |
|
|
|
|
|
 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.
|
