|
|
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 |
| |
-0.252252 |
| |
-0.252307 |
| |
-0.252318 |
| |
-0.252318 |
| |
-0.252320 |
| |
-0.252324 |
| |
-0.252337 |
| |
-0.252342 |
| |
-0.252351 |
| |
-0.252382 |
| |
-0.252387 |
| |
-0.252398 |
| |
-0.252422 |
| |
-0.252438 |
| |
-0.252450 |
| |
-0.252515 |
| |
-0.252564 |
| |
-0.252575 |
| |
-0.252612 |
| |
-0.252638 |
| |
-0.252648 |
| |
-0.252688 |
| |
-0.252724 |
| |
-0.252730 |
| |
-0.252731 |
|
|
|
|
|
 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.
|
