|
|
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 |
| |
-0.639658 |
| |
-0.639673 |
| |
-0.639683 |
| |
-0.639737 |
| |
-0.639753 |
| |
-0.639829 |
| |
-0.639845 |
| |
-0.639845 |
| |
-0.639862 |
| |
-0.639899 |
| |
-0.639904 |
| |
-0.639927 |
| |
-0.639943 |
| |
-0.639981 |
| |
-0.640031 |
| |
-0.640031 |
| |
-0.640040 |
| |
-0.640063 |
| |
-0.640074 |
| |
-0.640086 |
| |
-0.640118 |
| |
-0.640118 |
| |
-0.640120 |
| |
-0.640179 |
| |
-0.640214 |
|
|
|
|
|
 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.
|
