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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.
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| Symbol | Correlation |
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-0.285919 |
| |
-0.286013 |
| |
-0.286053 |
| |
-0.286107 |
| |
-0.286128 |
| |
-0.286215 |
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-0.286225 |
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-0.286274 |
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-0.286289 |
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-0.286501 |
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-0.286598 |
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-0.286632 |
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-0.286668 |
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-0.286681 |
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-0.286755 |
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-0.286759 |
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-0.286776 |
| |
-0.286786 |
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-0.286832 |
| |
-0.286959 |
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-0.286971 |
| |
-0.286989 |
| |
-0.287039 |
| |
-0.287137 |
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-0.287143 |
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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.
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