|
|
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 |
| |
-0.138360 |
| |
-0.138491 |
| |
-0.138497 |
| |
-0.138577 |
| |
-0.138671 |
| |
-0.138673 |
| |
-0.138729 |
| |
-0.138735 |
| |
-0.138738 |
| |
-0.138778 |
| |
-0.138786 |
| |
-0.138804 |
| |
-0.138809 |
| |
-0.138840 |
| |
-0.138869 |
| |
-0.138919 |
| |
-0.138962 |
| |
-0.138971 |
| |
-0.138972 |
| |
-0.139066 |
| |
-0.139121 |
| |
-0.139154 |
| |
-0.139167 |
| |
-0.139253 |
| |
-0.139260 |
|
|
|
|
|
 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.
|
