|
|
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 |
| |
-0.312045 |
| |
-0.312056 |
| |
-0.312068 |
| |
-0.312090 |
| |
-0.312160 |
| |
-0.312168 |
| |
-0.312181 |
| |
-0.312229 |
| |
-0.312426 |
| |
-0.312558 |
| |
-0.312641 |
| |
-0.312692 |
| |
-0.312725 |
| |
-0.312731 |
| |
-0.312936 |
| |
-0.312954 |
| |
-0.313023 |
| |
-0.313049 |
| |
-0.313076 |
| |
-0.313153 |
| |
-0.313171 |
| |
-0.313364 |
| |
-0.313418 |
| |
-0.313452 |
| |
-0.313554 |
|
|
|
|
|
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.
|