|
|
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 |
| |
-0.602716 |
| |
-0.602802 |
| |
-0.603340 |
| |
-0.603344 |
| |
-0.603389 |
| |
-0.603397 |
| |
-0.603404 |
| |
-0.603489 |
| |
-0.603534 |
| |
-0.603604 |
| |
-0.603624 |
| |
-0.603624 |
| |
-0.603848 |
| |
-0.603848 |
| |
-0.603914 |
| |
-0.604030 |
| |
-0.604248 |
| |
-0.604632 |
| |
-0.604632 |
| |
-0.604815 |
| |
-0.604815 |
| |
-0.605745 |
| |
-0.605859 |
| |
-0.606043 |
| |
-0.606185 |
|
|
|
|
|
 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.
|
