|
|
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 |
| |
-0.297535 |
| |
-0.297593 |
| |
-0.297653 |
| |
-0.297666 |
| |
-0.297729 |
| |
-0.297746 |
| |
-0.297871 |
| |
-0.297901 |
| |
-0.297940 |
| |
-0.298056 |
| |
-0.298091 |
| |
-0.298107 |
| |
-0.298158 |
| |
-0.298173 |
| |
-0.298178 |
| |
-0.298265 |
| |
-0.298306 |
| |
-0.298351 |
| |
-0.298363 |
| |
-0.298497 |
| |
-0.298543 |
| |
-0.298565 |
| |
-0.298588 |
| |
-0.298590 |
| |
-0.298647 |
|
|
|
|
|
 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.
|
