|
|
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 |
| |
-0.300485 |
| |
-0.300615 |
| |
-0.300727 |
| |
-0.300812 |
| |
-0.300812 |
| |
-0.300840 |
| |
-0.300840 |
| |
-0.300899 |
| |
-0.300935 |
| |
-0.301059 |
| |
-0.301059 |
| |
-0.301309 |
| |
-0.301309 |
| |
-0.301316 |
| |
-0.301397 |
| |
-0.301410 |
| |
-0.301453 |
| |
-0.301514 |
| |
-0.301556 |
| |
-0.301581 |
| |
-0.301716 |
| |
-0.301758 |
| |
-0.301796 |
| |
-0.301911 |
| |
-0.301911 |
|
|
|
|
|
 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.
|
