|
|
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 |
| |
-0.190758 |
| |
-0.190767 |
| |
-0.190805 |
| |
-0.191083 |
| |
-0.191161 |
| |
-0.191170 |
| |
-0.191198 |
| |
-0.191220 |
| |
-0.191234 |
| |
-0.191246 |
| |
-0.191246 |
| |
-0.191322 |
| |
-0.191574 |
| |
-0.191611 |
| |
-0.191625 |
| |
-0.191632 |
| |
-0.191647 |
| |
-0.191650 |
| |
-0.191694 |
| |
-0.191742 |
| |
-0.191744 |
| |
-0.191751 |
| |
-0.191814 |
| |
-0.191839 |
| |
-0.191897 |
|
|
|
|
|
 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.
|
