|
|
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 |
| |
-0.287007 |
| |
-0.287221 |
| |
-0.287763 |
| |
-0.288017 |
| |
-0.288119 |
| |
-0.288144 |
| |
-0.288181 |
| |
-0.288619 |
| |
-0.289021 |
| |
-0.289105 |
| |
-0.289105 |
| |
-0.289185 |
| |
-0.289268 |
| |
-0.289289 |
| |
-0.289423 |
| |
-0.289566 |
| |
-0.289768 |
| |
-0.290078 |
| |
-0.290161 |
| |
-0.290258 |
| |
-0.290266 |
| |
-0.290266 |
| |
-0.290594 |
| |
-0.290745 |
| |
-0.290926 |
|
|
|
|
|
 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.
|
