|
|
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 |
| |
-0.520913 |
| |
-0.520913 |
| |
-0.521052 |
| |
-0.521142 |
| |
-0.521200 |
| |
-0.521241 |
| |
-0.521357 |
| |
-0.521654 |
| |
-0.521793 |
| |
-0.522218 |
| |
-0.522218 |
| |
-0.522372 |
| |
-0.522451 |
| |
-0.522858 |
| |
-0.523429 |
| |
-0.523457 |
| |
-0.523610 |
| |
-0.523633 |
| |
-0.523691 |
| |
-0.523773 |
| |
-0.523841 |
| |
-0.524004 |
| |
-0.524004 |
| |
-0.524079 |
| |
-0.524079 |
|
|
|
|
|
 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.
|
