|
|
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 |
| |
-0.627078 |
| |
-0.627095 |
| |
-0.627095 |
| |
-0.627101 |
| |
-0.627210 |
| |
-0.627236 |
| |
-0.627267 |
| |
-0.627277 |
| |
-0.627295 |
| |
-0.627307 |
| |
-0.627438 |
| |
-0.627439 |
| |
-0.627440 |
| |
-0.627460 |
| |
-0.627528 |
| |
-0.627545 |
| |
-0.627604 |
| |
-0.627762 |
| |
-0.627777 |
| |
-0.627780 |
| |
-0.627780 |
| |
-0.627802 |
| |
-0.627818 |
| |
-0.627833 |
| |
-0.627869 |
|
|
|
|
|
 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.
|
