|
|
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 |
| |
-0.771819 |
| |
-0.771821 |
| |
-0.771949 |
| |
-0.771976 |
| |
-0.772024 |
| |
-0.772066 |
| |
-0.772139 |
| |
-0.772352 |
| |
-0.772385 |
| |
-0.772485 |
| |
-0.772792 |
| |
-0.772828 |
| |
-0.772908 |
| |
-0.772992 |
| |
-0.773199 |
| |
-0.773286 |
| |
-0.773350 |
| |
-0.773474 |
| |
-0.773523 |
| |
-0.773576 |
| |
-0.773576 |
| |
-0.773654 |
| |
-0.773702 |
| |
-0.773751 |
| |
-0.773772 |
|
|
|
|
|
 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.
|
