|
|
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 |
| |
-0.315036 |
| |
-0.315163 |
| |
-0.315334 |
| |
-0.315359 |
| |
-0.315359 |
| |
-0.315459 |
| |
-0.315469 |
| |
-0.315506 |
| |
-0.315663 |
| |
-0.315668 |
| |
-0.315676 |
| |
-0.315704 |
| |
-0.315832 |
| |
-0.315839 |
| |
-0.315938 |
| |
-0.315939 |
| |
-0.316001 |
| |
-0.316093 |
| |
-0.316151 |
| |
-0.316230 |
| |
-0.316285 |
| |
-0.316326 |
| |
-0.316362 |
| |
-0.316480 |
| |
-0.316508 |
|
|
|
|
|
 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.
|
