|
|
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 |
| |
-0.309219 |
| |
-0.309230 |
| |
-0.309237 |
| |
-0.309288 |
| |
-0.309291 |
| |
-0.309330 |
| |
-0.309367 |
| |
-0.309382 |
| |
-0.309465 |
| |
-0.309517 |
| |
-0.309558 |
| |
-0.309603 |
| |
-0.309817 |
| |
-0.310063 |
| |
-0.310095 |
| |
-0.310148 |
| |
-0.310281 |
| |
-0.310323 |
| |
-0.310329 |
| |
-0.310384 |
| |
-0.310467 |
| |
-0.310478 |
| |
-0.310647 |
| |
-0.310675 |
| |
-0.310741 |
|
|
|
|
|
 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.
|
