|
|
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 |
| |
-0.259533 |
| |
-0.259625 |
| |
-0.259651 |
| |
-0.259679 |
| |
-0.259720 |
| |
-0.259746 |
| |
-0.259759 |
| |
-0.259877 |
| |
-0.260002 |
| |
-0.260027 |
| |
-0.260052 |
| |
-0.260173 |
| |
-0.260219 |
| |
-0.260236 |
| |
-0.260378 |
| |
-0.260433 |
| |
-0.260436 |
| |
-0.260482 |
| |
-0.260568 |
| |
-0.260582 |
| |
-0.260606 |
| |
-0.260619 |
| |
-0.260695 |
| |
-0.260746 |
| |
-0.260763 |
|
|
|
|
|
 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.
|
