|
|
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 |
| |
-0.687646 |
| |
-0.687678 |
| |
-0.687680 |
| |
-0.687752 |
| |
-0.687772 |
| |
-0.687795 |
| |
-0.687802 |
| |
-0.687809 |
| |
-0.687926 |
| |
-0.687985 |
| |
-0.688010 |
| |
-0.688040 |
| |
-0.688068 |
| |
-0.688092 |
| |
-0.688120 |
| |
-0.688137 |
| |
-0.688205 |
| |
-0.688249 |
| |
-0.688258 |
| |
-0.688262 |
| |
-0.688308 |
| |
-0.688322 |
| |
-0.688378 |
| |
-0.688421 |
| |
-0.688446 |
|
|
|
|
|
 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.
|
