|
|
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 |
| |
-0.349851 |
| |
-0.350004 |
| |
-0.350056 |
| |
-0.350101 |
| |
-0.350118 |
| |
-0.350135 |
| |
-0.350140 |
| |
-0.350198 |
| |
-0.350283 |
| |
-0.350329 |
| |
-0.350547 |
| |
-0.350547 |
| |
-0.350592 |
| |
-0.350709 |
| |
-0.350803 |
| |
-0.350902 |
| |
-0.350902 |
| |
-0.351026 |
| |
-0.351090 |
| |
-0.351090 |
| |
-0.351124 |
| |
-0.351128 |
| |
-0.351169 |
| |
-0.351178 |
| |
-0.351190 |
|
|
|
|
|
 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.
|
