|
|
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 |
| |
-0.576474 |
| |
-0.576474 |
| |
-0.576670 |
| |
-0.576935 |
| |
-0.576993 |
| |
-0.577391 |
| |
-0.577404 |
| |
-0.577644 |
| |
-0.577646 |
| |
-0.577657 |
| |
-0.577670 |
| |
-0.577670 |
| |
-0.577993 |
| |
-0.578368 |
| |
-0.578368 |
| |
-0.578581 |
| |
-0.578884 |
| |
-0.578999 |
| |
-0.578999 |
| |
-0.579041 |
| |
-0.579041 |
| |
-0.580594 |
| |
-0.580824 |
| |
-0.581262 |
| |
-0.581262 |
|
|
|
|
|
 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.
|
