|
|
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 |
| |
-0.354111 |
| |
-0.354159 |
| |
-0.354271 |
| |
-0.354273 |
| |
-0.354287 |
| |
-0.354314 |
| |
-0.354320 |
| |
-0.354367 |
| |
-0.354378 |
| |
-0.354566 |
| |
-0.354684 |
| |
-0.354688 |
| |
-0.354724 |
| |
-0.354759 |
| |
-0.354838 |
| |
-0.354903 |
| |
-0.354937 |
| |
-0.354937 |
| |
-0.354938 |
| |
-0.355046 |
| |
-0.355084 |
| |
-0.355160 |
| |
-0.355188 |
| |
-0.355229 |
| |
-0.355240 |
|
|
|
|
|
 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.
|
