|
|
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 |
| |
-0.128116 |
| |
-0.128156 |
| |
-0.128500 |
| |
-0.128692 |
| |
-0.128763 |
| |
-0.128763 |
| |
-0.128920 |
| |
-0.128932 |
| |
-0.129072 |
| |
-0.129072 |
| |
-0.129132 |
| |
-0.129273 |
| |
-0.129408 |
| |
-0.129481 |
| |
-0.129495 |
| |
-0.129499 |
| |
-0.129976 |
| |
-0.130351 |
| |
-0.130414 |
| |
-0.130456 |
| |
-0.130699 |
| |
-0.130699 |
| |
-0.130846 |
| |
-0.130851 |
| |
-0.131024 |
|
|
|
|
|
 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.
|
