|
|
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 |
| |
-0.490833 |
| |
-0.491054 |
| |
-0.491269 |
| |
-0.491306 |
| |
-0.491341 |
| |
-0.491488 |
| |
-0.491534 |
| |
-0.491555 |
| |
-0.491613 |
| |
-0.491704 |
| |
-0.492204 |
| |
-0.492708 |
| |
-0.492800 |
| |
-0.492889 |
| |
-0.492917 |
| |
-0.492929 |
| |
-0.493029 |
| |
-0.493117 |
| |
-0.493482 |
| |
-0.493622 |
| |
-0.493766 |
| |
-0.493861 |
| |
-0.494117 |
| |
-0.494150 |
| |
-0.494174 |
|
|
|
|
|
 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.
|
