|
|
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 |
| |
-0.444511 |
| |
-0.444513 |
| |
-0.444658 |
| |
-0.444697 |
| |
-0.444732 |
| |
-0.444739 |
| |
-0.444782 |
| |
-0.444864 |
| |
-0.444966 |
| |
-0.445106 |
| |
-0.445175 |
| |
-0.445177 |
| |
-0.445181 |
| |
-0.445186 |
| |
-0.445265 |
| |
-0.445351 |
| |
-0.445351 |
| |
-0.445396 |
| |
-0.445484 |
| |
-0.445486 |
| |
-0.445517 |
| |
-0.445532 |
| |
-0.445537 |
| |
-0.445542 |
| |
-0.445542 |
|
|
|
|
|
 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.
|
