|
|
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 |
| |
-0.291752 |
| |
-0.291825 |
| |
-0.291871 |
| |
-0.291890 |
| |
-0.291931 |
| |
-0.291963 |
| |
-0.291992 |
| |
-0.291997 |
| |
-0.292125 |
| |
-0.292132 |
| |
-0.292262 |
| |
-0.292306 |
| |
-0.292314 |
| |
-0.292413 |
| |
-0.292437 |
| |
-0.292471 |
| |
-0.292493 |
| |
-0.292504 |
| |
-0.292559 |
| |
-0.292656 |
| |
-0.292659 |
| |
-0.292716 |
| |
-0.292791 |
| |
-0.292836 |
| |
-0.292984 |
|
|
|
|
|
 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.
|
