|
|
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 |
| |
-0.049506 |
| |
-0.049557 |
| |
-0.049579 |
| |
-0.049661 |
| |
-0.049693 |
| |
-0.049755 |
| |
-0.049858 |
| |
-0.049874 |
| |
-0.049895 |
| |
-0.050054 |
| |
-0.050126 |
| |
-0.050465 |
| |
-0.050496 |
| |
-0.050537 |
| |
-0.050664 |
| |
-0.050746 |
| |
-0.050752 |
| |
-0.050759 |
| |
-0.050776 |
| |
-0.050797 |
| |
-0.050833 |
| |
-0.050871 |
| |
-0.050900 |
| |
-0.050978 |
| |
-0.051071 |
|
|
|
|
|
 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.
|
