|
|
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 |
| |
-0.695705 |
| |
-0.695779 |
| |
-0.695890 |
| |
-0.695892 |
| |
-0.695917 |
| |
-0.696033 |
| |
-0.696098 |
| |
-0.696189 |
| |
-0.696200 |
| |
-0.696200 |
| |
-0.696389 |
| |
-0.696394 |
| |
-0.696397 |
| |
-0.696533 |
| |
-0.696549 |
| |
-0.696627 |
| |
-0.696709 |
| |
-0.696716 |
| |
-0.696765 |
| |
-0.696801 |
| |
-0.696825 |
| |
-0.696917 |
| |
-0.696930 |
| |
-0.697071 |
| |
-0.697095 |
|
|
|
|
|
 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.
|
