|
|
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 |
| |
-0.352381 |
| |
-0.352439 |
| |
-0.352589 |
| |
-0.352679 |
| |
-0.352739 |
| |
-0.352968 |
| |
-0.353006 |
| |
-0.353125 |
| |
-0.353177 |
| |
-0.353222 |
| |
-0.353296 |
| |
-0.353313 |
| |
-0.353544 |
| |
-0.353586 |
| |
-0.353591 |
| |
-0.353591 |
| |
-0.353736 |
| |
-0.353757 |
| |
-0.353797 |
| |
-0.353844 |
| |
-0.354065 |
| |
-0.354066 |
| |
-0.354077 |
| |
-0.354105 |
| |
-0.354109 |
|
|
|
|
|
 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.
|
