|
|
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 |
| |
-0.616933 |
| |
-0.617122 |
| |
-0.617180 |
| |
-0.617237 |
| |
-0.617241 |
| |
-0.617243 |
| |
-0.617256 |
| |
-0.617304 |
| |
-0.617336 |
| |
-0.617356 |
| |
-0.617381 |
| |
-0.617407 |
| |
-0.617435 |
| |
-0.617446 |
| |
-0.617462 |
| |
-0.617476 |
| |
-0.617547 |
| |
-0.617597 |
| |
-0.617602 |
| |
-0.617609 |
| |
-0.617686 |
| |
-0.617744 |
| |
-0.617761 |
| |
-0.617768 |
| |
-0.617806 |
|
|
|
|
|
 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.
|
