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