|
|
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 |
| |
-0.136173 |
| |
-0.136241 |
| |
-0.136268 |
| |
-0.136274 |
| |
-0.136307 |
| |
-0.136326 |
| |
-0.136338 |
| |
-0.136457 |
| |
-0.136564 |
| |
-0.136581 |
| |
-0.136597 |
| |
-0.136636 |
| |
-0.136703 |
| |
-0.136840 |
| |
-0.136887 |
| |
-0.136993 |
| |
-0.137078 |
| |
-0.137095 |
| |
-0.137187 |
| |
-0.137241 |
| |
-0.137250 |
| |
-0.137252 |
| |
-0.137283 |
| |
-0.137283 |
| |
-0.137304 |
|
|
|
|
|
 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.
|
