|
|
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 |
| |
-0.271382 |
| |
-0.271412 |
| |
-0.271453 |
| |
-0.271483 |
| |
-0.271513 |
| |
-0.271525 |
| |
-0.271563 |
| |
-0.271567 |
| |
-0.271600 |
| |
-0.271608 |
| |
-0.271629 |
| |
-0.271652 |
| |
-0.271681 |
| |
-0.271686 |
| |
-0.271724 |
| |
-0.271790 |
| |
-0.271828 |
| |
-0.271987 |
| |
-0.272103 |
| |
-0.272108 |
| |
-0.272131 |
| |
-0.272131 |
| |
-0.272132 |
| |
-0.272142 |
| |
-0.272143 |
|
|
|
|
|
 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.
|
