|
|
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 |
| |
-0.197007 |
| |
-0.197033 |
| |
-0.197191 |
| |
-0.197194 |
| |
-0.197356 |
| |
-0.197590 |
| |
-0.197638 |
| |
-0.197817 |
| |
-0.197833 |
| |
-0.197925 |
| |
-0.197955 |
| |
-0.198185 |
| |
-0.198185 |
| |
-0.198287 |
| |
-0.198451 |
| |
-0.198650 |
| |
-0.199039 |
| |
-0.199238 |
| |
-0.199386 |
| |
-0.199456 |
| |
-0.200238 |
| |
-0.200267 |
| |
-0.200701 |
| |
-0.200837 |
| |
-0.200837 |
|
|
|
|
|
 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.
|
