|
|
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 |
| |
-0.371124 |
| |
-0.371159 |
| |
-0.371261 |
| |
-0.371432 |
| |
-0.371538 |
| |
-0.371628 |
| |
-0.371695 |
| |
-0.371767 |
| |
-0.371777 |
| |
-0.371891 |
| |
-0.372413 |
| |
-0.372490 |
| |
-0.372551 |
| |
-0.372670 |
| |
-0.372772 |
| |
-0.372816 |
| |
-0.372941 |
| |
-0.373031 |
| |
-0.373167 |
| |
-0.373263 |
| |
-0.373800 |
| |
-0.373950 |
| |
-0.374173 |
| |
-0.374252 |
| |
-0.374275 |
|
|
|
|
|
 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.
|
