|
|
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 |
| |
-0.035975 |
| |
-0.036320 |
| |
-0.036587 |
| |
-0.036802 |
| |
-0.036802 |
| |
-0.037137 |
| |
-0.037479 |
| |
-0.037479 |
| |
-0.037622 |
| |
-0.037810 |
| |
-0.038196 |
| |
-0.038303 |
| |
-0.038446 |
| |
-0.039122 |
| |
-0.039137 |
| |
-0.040278 |
| |
-0.040328 |
| |
-0.040353 |
| |
-0.040353 |
| |
-0.040623 |
| |
-0.040629 |
| |
-0.040696 |
| |
-0.040911 |
| |
-0.040956 |
| |
-0.040964 |
|
|
|
|
|
 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.
|
