|
|
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 |
| |
-0.041150 |
| |
-0.041422 |
| |
-0.041569 |
| |
-0.041569 |
| |
-0.042148 |
| |
-0.042184 |
| |
-0.042659 |
| |
-0.042843 |
| |
-0.043048 |
| |
-0.043124 |
| |
-0.043275 |
| |
-0.043326 |
| |
-0.043436 |
| |
-0.043585 |
| |
-0.043600 |
| |
-0.043831 |
| |
-0.044182 |
| |
-0.044234 |
| |
-0.044403 |
| |
-0.044813 |
| |
-0.045079 |
| |
-0.045189 |
| |
-0.045405 |
| |
-0.045616 |
| |
-0.045701 |
|
|
|
|
|
 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.
|
