|
|
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 |
| |
-0.228009 |
| |
-0.228276 |
| |
-0.228654 |
| |
-0.228786 |
| |
-0.229947 |
| |
-0.230431 |
| |
-0.230458 |
| |
-0.231243 |
| |
-0.231333 |
| |
-0.231416 |
| |
-0.231416 |
| |
-0.231485 |
| |
-0.231894 |
| |
-0.232120 |
| |
-0.232836 |
| |
-0.232866 |
| |
-0.232896 |
| |
-0.232930 |
| |
-0.233007 |
| |
-0.233196 |
| |
-0.233277 |
| |
-0.233294 |
| |
-0.233294 |
| |
-0.233407 |
| |
-0.233516 |
|
|
|
|
|
 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.
|
