|
|
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 |
| |
-0.282185 |
| |
-0.282219 |
| |
-0.282223 |
| |
-0.282251 |
| |
-0.282333 |
| |
-0.282421 |
| |
-0.282424 |
| |
-0.282430 |
| |
-0.282509 |
| |
-0.282543 |
| |
-0.282578 |
| |
-0.282616 |
| |
-0.282633 |
| |
-0.282688 |
| |
-0.282738 |
| |
-0.282832 |
| |
-0.282871 |
| |
-0.282882 |
| |
-0.282898 |
| |
-0.283006 |
| |
-0.283057 |
| |
-0.283069 |
| |
-0.283123 |
| |
-0.283131 |
| |
-0.283254 |
|
|
|
|
|
 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.
|
