|
|
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 |
| |
-0.226252 |
| |
-0.226284 |
| |
-0.226318 |
| |
-0.226343 |
| |
-0.226455 |
| |
-0.226540 |
| |
-0.226591 |
| |
-0.226594 |
| |
-0.226709 |
| |
-0.226750 |
| |
-0.226765 |
| |
-0.226777 |
| |
-0.226816 |
| |
-0.226930 |
| |
-0.226956 |
| |
-0.227004 |
| |
-0.227014 |
| |
-0.227173 |
| |
-0.227191 |
| |
-0.227196 |
| |
-0.227200 |
| |
-0.227231 |
| |
-0.227234 |
| |
-0.227277 |
| |
-0.227291 |
|
|
|
|
|
 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.
|
