|
|
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 |
| |
-0.656670 |
| |
-0.656685 |
| |
-0.656794 |
| |
-0.656798 |
| |
-0.656827 |
| |
-0.656830 |
| |
-0.656878 |
| |
-0.656878 |
| |
-0.656946 |
| |
-0.656947 |
| |
-0.657008 |
| |
-0.657038 |
| |
-0.657044 |
| |
-0.657062 |
| |
-0.657149 |
| |
-0.657206 |
| |
-0.657249 |
| |
-0.657274 |
| |
-0.657274 |
| |
-0.657296 |
| |
-0.657311 |
| |
-0.657361 |
| |
-0.657361 |
| |
-0.657420 |
| |
-0.657518 |
|
|
|
|
|
 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.
|
