|
|
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 |
| |
-0.284384 |
| |
-0.284384 |
| |
-0.284474 |
| |
-0.284545 |
| |
-0.284545 |
| |
-0.284635 |
| |
-0.284696 |
| |
-0.285101 |
| |
-0.285117 |
| |
-0.285189 |
| |
-0.285221 |
| |
-0.285275 |
| |
-0.285753 |
| |
-0.285896 |
| |
-0.285947 |
| |
-0.286040 |
| |
-0.286157 |
| |
-0.286227 |
| |
-0.286443 |
| |
-0.286446 |
| |
-0.286536 |
| |
-0.286600 |
| |
-0.286930 |
| |
-0.287108 |
| |
-0.287341 |
|
|
|
|
|
 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.
|
