|
|
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 |
| |
-0.267296 |
| |
-0.267318 |
| |
-0.267324 |
| |
-0.267432 |
| |
-0.267709 |
| |
-0.267766 |
| |
-0.267937 |
| |
-0.268075 |
| |
-0.268145 |
| |
-0.268228 |
| |
-0.268286 |
| |
-0.268313 |
| |
-0.268313 |
| |
-0.268405 |
| |
-0.268524 |
| |
-0.268740 |
| |
-0.268810 |
| |
-0.268810 |
| |
-0.268813 |
| |
-0.269152 |
| |
-0.269185 |
| |
-0.269185 |
| |
-0.269250 |
| |
-0.269360 |
| |
-0.269410 |
|
|
|
|
|
 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.
|
