|
|
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 |
| |
-0.301194 |
| |
-0.301254 |
| |
-0.301322 |
| |
-0.301333 |
| |
-0.301354 |
| |
-0.301387 |
| |
-0.301415 |
| |
-0.301443 |
| |
-0.301456 |
| |
-0.301522 |
| |
-0.301533 |
| |
-0.301677 |
| |
-0.301688 |
| |
-0.301761 |
| |
-0.301962 |
| |
-0.301964 |
| |
-0.302001 |
| |
-0.302036 |
| |
-0.302181 |
| |
-0.302181 |
| |
-0.302215 |
| |
-0.302222 |
| |
-0.302241 |
| |
-0.302278 |
| |
-0.302410 |
|
|
|
|
|
 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.
|
