|
|
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 |
| |
-0.581299 |
| |
-0.581706 |
| |
-0.581971 |
| |
-0.582046 |
| |
-0.582377 |
| |
-0.582403 |
| |
-0.582407 |
| |
-0.582409 |
| |
-0.582471 |
| |
-0.583012 |
| |
-0.583242 |
| |
-0.583242 |
| |
-0.583360 |
| |
-0.583517 |
| |
-0.583517 |
| |
-0.583855 |
| |
-0.583894 |
| |
-0.584104 |
| |
-0.585092 |
| |
-0.585092 |
| |
-0.585380 |
| |
-0.585380 |
| |
-0.585552 |
| |
-0.585869 |
| |
-0.585896 |
|
|
|
|
|
 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.
|
