|
|
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 |
| |
-0.202361 |
| |
-0.202381 |
| |
-0.202388 |
| |
-0.202485 |
| |
-0.202568 |
| |
-0.202613 |
| |
-0.202681 |
| |
-0.202747 |
| |
-0.202751 |
| |
-0.202791 |
| |
-0.202840 |
| |
-0.202846 |
| |
-0.202879 |
| |
-0.202886 |
| |
-0.202901 |
| |
-0.202915 |
| |
-0.202931 |
| |
-0.202950 |
| |
-0.202993 |
| |
-0.203109 |
| |
-0.203140 |
| |
-0.203191 |
| |
-0.203241 |
| |
-0.203263 |
| |
-0.203263 |
|
|
|
|
|
 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.
|
