|
|
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 |
| |
-0.105425 |
| |
-0.105564 |
| |
-0.105724 |
| |
-0.105854 |
| |
-0.106017 |
| |
-0.106158 |
| |
-0.106354 |
| |
-0.106451 |
| |
-0.106524 |
| |
-0.106645 |
| |
-0.106645 |
| |
-0.106808 |
| |
-0.106808 |
| |
-0.106952 |
| |
-0.106958 |
| |
-0.107519 |
| |
-0.107519 |
| |
-0.107868 |
| |
-0.107924 |
| |
-0.108315 |
| |
-0.108557 |
| |
-0.108957 |
| |
-0.108977 |
| |
-0.109313 |
| |
-0.109313 |
|
|
|
|
|
 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.
|
