|
|
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 |
| |
-0.278887 |
| |
-0.278999 |
| |
-0.279166 |
| |
-0.279313 |
| |
-0.279388 |
| |
-0.279468 |
| |
-0.279526 |
| |
-0.279536 |
| |
-0.279584 |
| |
-0.279672 |
| |
-0.279756 |
| |
-0.279784 |
| |
-0.279889 |
| |
-0.279916 |
| |
-0.279951 |
| |
-0.280021 |
| |
-0.280052 |
| |
-0.280145 |
| |
-0.280213 |
| |
-0.280235 |
| |
-0.280277 |
| |
-0.280400 |
| |
-0.280489 |
| |
-0.280494 |
| |
-0.280547 |
|
|
|
|
|
 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.
|
