|
|
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 |
| |
-0.651537 |
| |
-0.651542 |
| |
-0.651580 |
| |
-0.651677 |
| |
-0.651691 |
| |
-0.651755 |
| |
-0.651763 |
| |
-0.651817 |
| |
-0.651817 |
| |
-0.651837 |
| |
-0.651874 |
| |
-0.651887 |
| |
-0.651972 |
| |
-0.652043 |
| |
-0.652118 |
| |
-0.652127 |
| |
-0.652208 |
| |
-0.652248 |
| |
-0.652318 |
| |
-0.652373 |
| |
-0.652410 |
| |
-0.652478 |
| |
-0.652626 |
| |
-0.652668 |
| |
-0.652777 |
|
|
|
|
|
 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.
|
