|
|
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 |
| |
-0.182894 |
| |
-0.182926 |
| |
-0.182946 |
| |
-0.183085 |
| |
-0.183472 |
| |
-0.183704 |
| |
-0.183803 |
| |
-0.183803 |
| |
-0.183826 |
| |
-0.183848 |
| |
-0.183937 |
| |
-0.183971 |
| |
-0.184243 |
| |
-0.184415 |
| |
-0.184459 |
| |
-0.184494 |
| |
-0.184564 |
| |
-0.184708 |
| |
-0.184879 |
| |
-0.184940 |
| |
-0.184981 |
| |
-0.185020 |
| |
-0.185117 |
| |
-0.185228 |
| |
-0.185228 |
|
|
|
|
|
 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.
|
