|
|
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 |
| |
-0.218333 |
| |
-0.218344 |
| |
-0.218356 |
| |
-0.218368 |
| |
-0.218398 |
| |
-0.218426 |
| |
-0.218462 |
| |
-0.218491 |
| |
-0.218492 |
| |
-0.218564 |
| |
-0.218626 |
| |
-0.218630 |
| |
-0.218647 |
| |
-0.218712 |
| |
-0.218779 |
| |
-0.218822 |
| |
-0.218831 |
| |
-0.219033 |
| |
-0.219055 |
| |
-0.219081 |
| |
-0.219127 |
| |
-0.219160 |
| |
-0.219184 |
| |
-0.219194 |
| |
-0.219213 |
|
|
|
|
|
 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.
|
