|
|
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 |
| |
-0.230794 |
| |
-0.230819 |
| |
-0.230823 |
| |
-0.231157 |
| |
-0.231165 |
| |
-0.231210 |
| |
-0.231388 |
| |
-0.231451 |
| |
-0.231491 |
| |
-0.231507 |
| |
-0.231691 |
| |
-0.231851 |
| |
-0.232020 |
| |
-0.232331 |
| |
-0.232331 |
| |
-0.232437 |
| |
-0.232497 |
| |
-0.232518 |
| |
-0.232735 |
| |
-0.233061 |
| |
-0.233156 |
| |
-0.233185 |
| |
-0.233226 |
| |
-0.233417 |
| |
-0.233427 |
|
|
|
|
|
 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.
|
