|
|
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 |
| |
-0.633606 |
| |
-0.633613 |
| |
-0.633622 |
| |
-0.633632 |
| |
-0.633768 |
| |
-0.633782 |
| |
-0.633784 |
| |
-0.633881 |
| |
-0.633900 |
| |
-0.633905 |
| |
-0.634013 |
| |
-0.634084 |
| |
-0.634184 |
| |
-0.634318 |
| |
-0.634321 |
| |
-0.634359 |
| |
-0.634410 |
| |
-0.634482 |
| |
-0.634482 |
| |
-0.634547 |
| |
-0.634554 |
| |
-0.634615 |
| |
-0.634647 |
| |
-0.634674 |
| |
-0.634676 |
|
|
|
|
|
 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.
|
