|
|
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 |
| |
-0.620839 |
| |
-0.621270 |
| |
-0.621754 |
| |
-0.621809 |
| |
-0.622016 |
| |
-0.622288 |
| |
-0.624063 |
| |
-0.625385 |
| |
-0.625385 |
| |
-0.625432 |
| |
-0.626599 |
| |
-0.627474 |
| |
-0.627504 |
| |
-0.627806 |
| |
-0.627826 |
| |
-0.627994 |
| |
-0.628574 |
| |
-0.629977 |
| |
-0.630130 |
| |
-0.630232 |
| |
-0.630232 |
| |
-0.630984 |
| |
-0.631314 |
| |
-0.631511 |
| |
-0.631511 |
|
|
|
|
|
 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.
|
