|
|
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 |
| |
-0.045989 |
| |
-0.046011 |
| |
-0.046037 |
| |
-0.046068 |
| |
-0.046123 |
| |
-0.046134 |
| |
-0.046164 |
| |
-0.046253 |
| |
-0.046329 |
| |
-0.046344 |
| |
-0.046391 |
| |
-0.046513 |
| |
-0.046584 |
| |
-0.046641 |
| |
-0.046644 |
| |
-0.046670 |
| |
-0.046770 |
| |
-0.046804 |
| |
-0.046906 |
| |
-0.046984 |
| |
-0.046993 |
| |
-0.047076 |
| |
-0.047116 |
| |
-0.047130 |
| |
-0.047145 |
|
|
|
|
|
 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.
|
