|
|
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 |
| |
-0.301969 |
| |
-0.302032 |
| |
-0.302301 |
| |
-0.302344 |
| |
-0.302427 |
| |
-0.302437 |
| |
-0.302521 |
| |
-0.302523 |
| |
-0.302599 |
| |
-0.302647 |
| |
-0.302647 |
| |
-0.302948 |
| |
-0.302995 |
| |
-0.303034 |
| |
-0.303059 |
| |
-0.303397 |
| |
-0.303429 |
| |
-0.303475 |
| |
-0.303491 |
| |
-0.303513 |
| |
-0.303550 |
| |
-0.303638 |
| |
-0.303645 |
| |
-0.303731 |
| |
-0.303844 |
|
|
|
|
|
 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.
|
