|
|
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 |
| |
-0.427666 |
| |
-0.427680 |
| |
-0.427726 |
| |
-0.427799 |
| |
-0.427895 |
| |
-0.428002 |
| |
-0.428046 |
| |
-0.428050 |
| |
-0.428058 |
| |
-0.428090 |
| |
-0.428107 |
| |
-0.428145 |
| |
-0.428217 |
| |
-0.428344 |
| |
-0.428347 |
| |
-0.428347 |
| |
-0.428467 |
| |
-0.428474 |
| |
-0.428496 |
| |
-0.428506 |
| |
-0.428567 |
| |
-0.428610 |
| |
-0.428675 |
| |
-0.428834 |
| |
-0.428999 |
|
|
|
|
|
 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.
|
