|
|
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 |
| |
-0.245624 |
| |
-0.245680 |
| |
-0.245704 |
| |
-0.245707 |
| |
-0.245710 |
| |
-0.245742 |
| |
-0.245796 |
| |
-0.245834 |
| |
-0.245877 |
| |
-0.245916 |
| |
-0.245925 |
| |
-0.245931 |
| |
-0.245941 |
| |
-0.245942 |
| |
-0.245959 |
| |
-0.246016 |
| |
-0.246053 |
| |
-0.246127 |
| |
-0.246149 |
| |
-0.246156 |
| |
-0.246158 |
| |
-0.246160 |
| |
-0.246180 |
| |
-0.246214 |
| |
-0.246218 |
|
|
|
|
|
 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.
|
