|
|
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 |
| |
-0.628774 |
| |
-0.628844 |
| |
-0.628853 |
| |
-0.628857 |
| |
-0.628875 |
| |
-0.628916 |
| |
-0.628923 |
| |
-0.628930 |
| |
-0.628956 |
| |
-0.628960 |
| |
-0.629042 |
| |
-0.629043 |
| |
-0.629074 |
| |
-0.629403 |
| |
-0.629411 |
| |
-0.629419 |
| |
-0.629451 |
| |
-0.629453 |
| |
-0.629467 |
| |
-0.629467 |
| |
-0.629480 |
| |
-0.629520 |
| |
-0.629526 |
| |
-0.629533 |
| |
-0.629543 |
|
|
|
|
|
 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.
|
