|
|
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 |
| |
-0.318908 |
| |
-0.318989 |
| |
-0.318989 |
| |
-0.319272 |
| |
-0.319387 |
| |
-0.319391 |
| |
-0.319417 |
| |
-0.319470 |
| |
-0.319515 |
| |
-0.319548 |
| |
-0.319561 |
| |
-0.319619 |
| |
-0.319619 |
| |
-0.319628 |
| |
-0.319665 |
| |
-0.319764 |
| |
-0.319811 |
| |
-0.319845 |
| |
-0.319915 |
| |
-0.319931 |
| |
-0.319975 |
| |
-0.320042 |
| |
-0.320157 |
| |
-0.320245 |
| |
-0.320262 |
|
|
|
|
|
 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.
|
