|
|
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 |
| |
-0.259193 |
| |
-0.259211 |
| |
-0.259233 |
| |
-0.259307 |
| |
-0.259311 |
| |
-0.259356 |
| |
-0.259402 |
| |
-0.259408 |
| |
-0.259441 |
| |
-0.259506 |
| |
-0.259532 |
| |
-0.259592 |
| |
-0.259620 |
| |
-0.259632 |
| |
-0.259709 |
| |
-0.259713 |
| |
-0.259726 |
| |
-0.259728 |
| |
-0.259733 |
| |
-0.259799 |
| |
-0.259810 |
| |
-0.259853 |
| |
-0.259864 |
| |
-0.259883 |
| |
-0.259910 |
|
|
|
|
|
 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.
|
