|
|
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 |
| |
-0.637843 |
| |
-0.637846 |
| |
-0.637871 |
| |
-0.637905 |
| |
-0.637943 |
| |
-0.637948 |
| |
-0.638098 |
| |
-0.638176 |
| |
-0.638248 |
| |
-0.638265 |
| |
-0.638267 |
| |
-0.638311 |
| |
-0.638343 |
| |
-0.638350 |
| |
-0.638494 |
| |
-0.638565 |
| |
-0.638604 |
| |
-0.638616 |
| |
-0.638675 |
| |
-0.638713 |
| |
-0.638735 |
| |
-0.638826 |
| |
-0.638830 |
| |
-0.638838 |
| |
-0.638879 |
|
|
|
|
|
 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.
|
