|
|
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 |
| |
-0.239391 |
| |
-0.239512 |
| |
-0.239539 |
| |
-0.239539 |
| |
-0.239563 |
| |
-0.239641 |
| |
-0.239648 |
| |
-0.239700 |
| |
-0.239718 |
| |
-0.239727 |
| |
-0.239782 |
| |
-0.239854 |
| |
-0.239866 |
| |
-0.239872 |
| |
-0.239913 |
| |
-0.239936 |
| |
-0.239939 |
| |
-0.239975 |
| |
-0.240022 |
| |
-0.240114 |
| |
-0.240141 |
| |
-0.240178 |
| |
-0.240256 |
| |
-0.240268 |
| |
-0.240275 |
|
|
|
|
|
 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.
|
