|
|
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 |
| |
-0.391834 |
| |
-0.392028 |
| |
-0.392392 |
| |
-0.392609 |
| |
-0.392640 |
| |
-0.392676 |
| |
-0.392884 |
| |
-0.392971 |
| |
-0.393213 |
| |
-0.393242 |
| |
-0.393301 |
| |
-0.393301 |
| |
-0.393316 |
| |
-0.393373 |
| |
-0.393713 |
| |
-0.393876 |
| |
-0.393876 |
| |
-0.393896 |
| |
-0.393930 |
| |
-0.393974 |
| |
-0.394124 |
| |
-0.394147 |
| |
-0.394333 |
| |
-0.394628 |
| |
-0.394784 |
|
|
|
|
|
 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.
|
