|
|
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 |
| |
-0.084210 |
| |
-0.084245 |
| |
-0.084245 |
| |
-0.084267 |
| |
-0.084298 |
| |
-0.084305 |
| |
-0.084672 |
| |
-0.085582 |
| |
-0.085836 |
| |
-0.085882 |
| |
-0.085890 |
| |
-0.085950 |
| |
-0.085954 |
| |
-0.085954 |
| |
-0.086238 |
| |
-0.086238 |
| |
-0.086483 |
| |
-0.087007 |
| |
-0.087091 |
| |
-0.087091 |
| |
-0.087557 |
| |
-0.087597 |
| |
-0.087837 |
| |
-0.087837 |
| |
-0.087903 |
|
|
|
|
|
 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.
|
