|
|
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 |
| |
-0.205465 |
| |
-0.205649 |
| |
-0.205649 |
| |
-0.205784 |
| |
-0.206438 |
| |
-0.206560 |
| |
-0.206892 |
| |
-0.207087 |
| |
-0.207228 |
| |
-0.207301 |
| |
-0.207304 |
| |
-0.207630 |
| |
-0.207674 |
| |
-0.207762 |
| |
-0.207891 |
| |
-0.207938 |
| |
-0.207952 |
| |
-0.208097 |
| |
-0.208137 |
| |
-0.209318 |
| |
-0.209340 |
| |
-0.209390 |
| |
-0.209438 |
| |
-0.209739 |
| |
-0.210169 |
|
|
|
|
|
 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.
|
