|
|
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 |
| |
-0.261487 |
| |
-0.261508 |
| |
-0.261509 |
| |
-0.261553 |
| |
-0.261564 |
| |
-0.261612 |
| |
-0.261631 |
| |
-0.261700 |
| |
-0.261803 |
| |
-0.261882 |
| |
-0.261946 |
| |
-0.261947 |
| |
-0.261971 |
| |
-0.262051 |
| |
-0.262061 |
| |
-0.262082 |
| |
-0.262119 |
| |
-0.262185 |
| |
-0.262221 |
| |
-0.262242 |
| |
-0.262261 |
| |
-0.262323 |
| |
-0.262349 |
| |
-0.262351 |
| |
-0.262414 |
|
|
|
|
|
 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.
|
