|
|
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 |
| |
-0.256318 |
| |
-0.256323 |
| |
-0.256342 |
| |
-0.256459 |
| |
-0.256467 |
| |
-0.256474 |
| |
-0.256479 |
| |
-0.256523 |
| |
-0.256536 |
| |
-0.256542 |
| |
-0.256561 |
| |
-0.256572 |
| |
-0.256589 |
| |
-0.256607 |
| |
-0.256640 |
| |
-0.256646 |
| |
-0.256647 |
| |
-0.256697 |
| |
-0.256723 |
| |
-0.256760 |
| |
-0.256763 |
| |
-0.256822 |
| |
-0.256828 |
| |
-0.256860 |
| |
-0.256873 |
|
|
|
|
|
 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.
|
