|
|
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 |
| |
-0.216722 |
| |
-0.216811 |
| |
-0.216814 |
| |
-0.216842 |
| |
-0.216842 |
| |
-0.216863 |
| |
-0.216926 |
| |
-0.216939 |
| |
-0.216960 |
| |
-0.217017 |
| |
-0.217153 |
| |
-0.217269 |
| |
-0.217288 |
| |
-0.217349 |
| |
-0.217357 |
| |
-0.217447 |
| |
-0.217468 |
| |
-0.217533 |
| |
-0.217548 |
| |
-0.217548 |
| |
-0.217572 |
| |
-0.217574 |
| |
-0.217682 |
| |
-0.217692 |
| |
-0.217756 |
|
|
|
|
|
 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.
|
