|
|
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 |
| |
-0.778258 |
| |
-0.778455 |
| |
-0.778604 |
| |
-0.778643 |
| |
-0.778650 |
| |
-0.778928 |
| |
-0.779026 |
| |
-0.779199 |
| |
-0.779199 |
| |
-0.779251 |
| |
-0.779280 |
| |
-0.779301 |
| |
-0.779560 |
| |
-0.779560 |
| |
-0.779627 |
| |
-0.779653 |
| |
-0.779684 |
| |
-0.779684 |
| |
-0.779725 |
| |
-0.779741 |
| |
-0.779758 |
| |
-0.779774 |
| |
-0.779889 |
| |
-0.779897 |
| |
-0.779958 |
|
|
|
|
|
 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.
|
