|
|
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 |
| |
-0.377357 |
| |
-0.377357 |
| |
-0.377400 |
| |
-0.377516 |
| |
-0.377560 |
| |
-0.377582 |
| |
-0.377608 |
| |
-0.377736 |
| |
-0.377740 |
| |
-0.377744 |
| |
-0.377788 |
| |
-0.377860 |
| |
-0.377956 |
| |
-0.377997 |
| |
-0.378031 |
| |
-0.378051 |
| |
-0.378257 |
| |
-0.378290 |
| |
-0.378342 |
| |
-0.378390 |
| |
-0.378499 |
| |
-0.378594 |
| |
-0.378697 |
| |
-0.378795 |
| |
-0.378815 |
|
|
|
|
|
 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.
|
