|
|
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 |
| |
-0.237346 |
| |
-0.237346 |
| |
-0.237533 |
| |
-0.237688 |
| |
-0.237850 |
| |
-0.238092 |
| |
-0.238111 |
| |
-0.238499 |
| |
-0.238583 |
| |
-0.238663 |
| |
-0.238713 |
| |
-0.238777 |
| |
-0.238777 |
| |
-0.238886 |
| |
-0.239040 |
| |
-0.239040 |
| |
-0.239049 |
| |
-0.239214 |
| |
-0.239273 |
| |
-0.239309 |
| |
-0.239398 |
| |
-0.239443 |
| |
-0.239727 |
| |
-0.239727 |
| |
-0.239756 |
|
|
|
|
|
 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.
|
