|
|
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 |
| |
-0.170072 |
| |
-0.170164 |
| |
-0.170175 |
| |
-0.170518 |
| |
-0.170519 |
| |
-0.170741 |
| |
-0.170891 |
| |
-0.170990 |
| |
-0.171041 |
| |
-0.171311 |
| |
-0.171407 |
| |
-0.171465 |
| |
-0.171673 |
| |
-0.171737 |
| |
-0.171822 |
| |
-0.171897 |
| |
-0.172022 |
| |
-0.172026 |
| |
-0.172133 |
| |
-0.172162 |
| |
-0.172198 |
| |
-0.172340 |
| |
-0.172376 |
| |
-0.172417 |
| |
-0.172625 |
|
|
|
|
|
 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.
|
