|
|
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 |
| |
-0.680885 |
| |
-0.680895 |
| |
-0.680935 |
| |
-0.680945 |
| |
-0.681066 |
| |
-0.681068 |
| |
-0.681105 |
| |
-0.681120 |
| |
-0.681149 |
| |
-0.681295 |
| |
-0.681295 |
| |
-0.681319 |
| |
-0.681431 |
| |
-0.681435 |
| |
-0.681459 |
| |
-0.681543 |
| |
-0.681550 |
| |
-0.681559 |
| |
-0.681621 |
| |
-0.681653 |
| |
-0.681679 |
| |
-0.681683 |
| |
-0.681796 |
| |
-0.681811 |
| |
-0.681935 |
|
|
|
|
|
 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.
|
