|
|
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 |
| |
-0.670167 |
| |
-0.670173 |
| |
-0.670187 |
| |
-0.670208 |
| |
-0.670208 |
| |
-0.670213 |
| |
-0.670244 |
| |
-0.670352 |
| |
-0.670352 |
| |
-0.670366 |
| |
-0.670459 |
| |
-0.670560 |
| |
-0.670574 |
| |
-0.670605 |
| |
-0.670616 |
| |
-0.670623 |
| |
-0.670745 |
| |
-0.670862 |
| |
-0.670871 |
| |
-0.670871 |
| |
-0.670954 |
| |
-0.670954 |
| |
-0.671011 |
| |
-0.671017 |
| |
-0.671061 |
|
|
|
|
|
 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.
|
