|
|
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 |
| |
-0.248990 |
| |
-0.248994 |
| |
-0.249000 |
| |
-0.249016 |
| |
-0.249041 |
| |
-0.249068 |
| |
-0.249128 |
| |
-0.249169 |
| |
-0.249208 |
| |
-0.249226 |
| |
-0.249228 |
| |
-0.249237 |
| |
-0.249240 |
| |
-0.249274 |
| |
-0.249336 |
| |
-0.249343 |
| |
-0.249359 |
| |
-0.249416 |
| |
-0.249444 |
| |
-0.249493 |
| |
-0.249561 |
| |
-0.249562 |
| |
-0.249574 |
| |
-0.249645 |
| |
-0.249678 |
|
|
|
|
|
 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.
|
