|
|
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 |
| |
-0.015255 |
| |
-0.015326 |
| |
-0.015476 |
| |
-0.015597 |
| |
-0.015801 |
| |
-0.015935 |
| |
-0.016247 |
| |
-0.016359 |
| |
-0.016494 |
| |
-0.016611 |
| |
-0.016640 |
| |
-0.016640 |
| |
-0.016646 |
| |
-0.016690 |
| |
-0.016696 |
| |
-0.016881 |
| |
-0.016892 |
| |
-0.017286 |
| |
-0.017770 |
| |
-0.017783 |
| |
-0.017842 |
| |
-0.018189 |
| |
-0.018281 |
| |
-0.018465 |
| |
-0.018718 |
|
|
|
|
|
 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.
|
