|
|
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 |
| |
-0.712842 |
| |
-0.712933 |
| |
-0.712958 |
| |
-0.713358 |
| |
-0.713364 |
| |
-0.713448 |
| |
-0.713508 |
| |
-0.713509 |
| |
-0.713569 |
| |
-0.713587 |
| |
-0.713749 |
| |
-0.713824 |
| |
-0.713824 |
| |
-0.713828 |
| |
-0.713855 |
| |
-0.713859 |
| |
-0.713861 |
| |
-0.713894 |
| |
-0.713901 |
| |
-0.713938 |
| |
-0.713941 |
| |
-0.713942 |
| |
-0.713948 |
| |
-0.713949 |
| |
-0.713949 |
|
|
|
|
|
 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.
|
