|
|
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 |
| |
-0.432668 |
| |
-0.432668 |
| |
-0.432726 |
| |
-0.432746 |
| |
-0.432771 |
| |
-0.432994 |
| |
-0.433545 |
| |
-0.434543 |
| |
-0.435135 |
| |
-0.435266 |
| |
-0.435329 |
| |
-0.435342 |
| |
-0.435485 |
| |
-0.435485 |
| |
-0.435566 |
| |
-0.435648 |
| |
-0.435730 |
| |
-0.435869 |
| |
-0.436029 |
| |
-0.436062 |
| |
-0.436121 |
| |
-0.436121 |
| |
-0.436134 |
| |
-0.436134 |
| |
-0.436166 |
|
|
|
|
|
 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.
|
