|
|
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 |
| |
-0.459526 |
| |
-0.459543 |
| |
-0.459543 |
| |
-0.459698 |
| |
-0.459962 |
| |
-0.459976 |
| |
-0.459977 |
| |
-0.460322 |
| |
-0.460508 |
| |
-0.460508 |
| |
-0.460631 |
| |
-0.460631 |
| |
-0.460651 |
| |
-0.460651 |
| |
-0.460700 |
| |
-0.460754 |
| |
-0.460754 |
| |
-0.460900 |
| |
-0.460990 |
| |
-0.461270 |
| |
-0.461284 |
| |
-0.461762 |
| |
-0.461869 |
| |
-0.462010 |
| |
-0.462090 |
|
|
|
|
|
 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.
|
