|
|
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 |
| |
-0.479496 |
| |
-0.479592 |
| |
-0.479787 |
| |
-0.479801 |
| |
-0.479816 |
| |
-0.479862 |
| |
-0.479907 |
| |
-0.479923 |
| |
-0.480011 |
| |
-0.480018 |
| |
-0.480144 |
| |
-0.480157 |
| |
-0.480184 |
| |
-0.480297 |
| |
-0.480448 |
| |
-0.480473 |
| |
-0.480576 |
| |
-0.480582 |
| |
-0.480598 |
| |
-0.480637 |
| |
-0.480706 |
| |
-0.480773 |
| |
-0.480795 |
| |
-0.480881 |
| |
-0.480881 |
|
|
|
|
|
 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.
|
