|
|
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 |
| |
-0.224757 |
| |
-0.224764 |
| |
-0.224846 |
| |
-0.224878 |
| |
-0.224924 |
| |
-0.224931 |
| |
-0.224942 |
| |
-0.224967 |
| |
-0.224975 |
| |
-0.225002 |
| |
-0.225007 |
| |
-0.225028 |
| |
-0.225035 |
| |
-0.225109 |
| |
-0.225173 |
| |
-0.225205 |
| |
-0.225209 |
| |
-0.225271 |
| |
-0.225362 |
| |
-0.225533 |
| |
-0.225539 |
| |
-0.225557 |
| |
-0.225589 |
| |
-0.225599 |
| |
-0.225621 |
|
|
|
|
|
 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.
|
