|
|
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 |
| |
-0.165416 |
| |
-0.165561 |
| |
-0.165785 |
| |
-0.165976 |
| |
-0.165976 |
| |
-0.165988 |
| |
-0.166263 |
| |
-0.166391 |
| |
-0.166502 |
| |
-0.166714 |
| |
-0.166900 |
| |
-0.166912 |
| |
-0.166925 |
| |
-0.166956 |
| |
-0.167073 |
| |
-0.167102 |
| |
-0.167111 |
| |
-0.167206 |
| |
-0.167312 |
| |
-0.167369 |
| |
-0.167948 |
| |
-0.167997 |
| |
-0.168106 |
| |
-0.168187 |
| |
-0.168252 |
|
|
|
|
|
 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.
|
