|
|
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 |
| |
-0.044778 |
| |
-0.044822 |
| |
-0.044852 |
| |
-0.044997 |
| |
-0.045076 |
| |
-0.045102 |
| |
-0.045177 |
| |
-0.045182 |
| |
-0.045186 |
| |
-0.045234 |
| |
-0.045449 |
| |
-0.045476 |
| |
-0.045538 |
| |
-0.045548 |
| |
-0.045548 |
| |
-0.045564 |
| |
-0.045616 |
| |
-0.045627 |
| |
-0.045684 |
| |
-0.045688 |
| |
-0.045804 |
| |
-0.045877 |
| |
-0.045901 |
| |
-0.045907 |
| |
-0.045955 |
|
|
|
|
|
 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.
|
