|
|
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 |
| |
-0.641860 |
| |
-0.641860 |
| |
-0.641949 |
| |
-0.641967 |
| |
-0.641968 |
| |
-0.641968 |
| |
-0.642046 |
| |
-0.642248 |
| |
-0.642254 |
| |
-0.642300 |
| |
-0.642420 |
| |
-0.642454 |
| |
-0.642459 |
| |
-0.642477 |
| |
-0.642545 |
| |
-0.642614 |
| |
-0.642767 |
| |
-0.642779 |
| |
-0.642786 |
| |
-0.642792 |
| |
-0.642925 |
| |
-0.642973 |
| |
-0.643167 |
| |
-0.643188 |
| |
-0.643190 |
|
|
|
|
|
 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.
|
