|
|
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 |
| |
-0.141692 |
| |
-0.141768 |
| |
-0.141790 |
| |
-0.141813 |
| |
-0.141834 |
| |
-0.141870 |
| |
-0.141954 |
| |
-0.141960 |
| |
-0.142058 |
| |
-0.142079 |
| |
-0.142081 |
| |
-0.142175 |
| |
-0.142206 |
| |
-0.142293 |
| |
-0.142308 |
| |
-0.142330 |
| |
-0.142343 |
| |
-0.142378 |
| |
-0.142394 |
| |
-0.142416 |
| |
-0.142507 |
| |
-0.142526 |
| |
-0.142550 |
| |
-0.142600 |
| |
-0.142612 |
|
|
|
|
|
 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.
|
