|
|
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 |
| |
-0.236110 |
| |
-0.236119 |
| |
-0.236267 |
| |
-0.236269 |
| |
-0.236292 |
| |
-0.236319 |
| |
-0.236407 |
| |
-0.236411 |
| |
-0.236473 |
| |
-0.236475 |
| |
-0.236495 |
| |
-0.236514 |
| |
-0.236530 |
| |
-0.236565 |
| |
-0.236570 |
| |
-0.236639 |
| |
-0.236639 |
| |
-0.236659 |
| |
-0.236662 |
| |
-0.236743 |
| |
-0.236860 |
| |
-0.236869 |
| |
-0.236893 |
| |
-0.236897 |
| |
-0.236935 |
|
|
|
|
|
 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.
|
