|
|
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 |
| |
-0.428997 |
| |
-0.429028 |
| |
-0.429124 |
| |
-0.429368 |
| |
-0.429560 |
| |
-0.429587 |
| |
-0.429587 |
| |
-0.429658 |
| |
-0.429658 |
| |
-0.429881 |
| |
-0.429988 |
| |
-0.430105 |
| |
-0.430384 |
| |
-0.430528 |
| |
-0.430528 |
| |
-0.430792 |
| |
-0.430865 |
| |
-0.431313 |
| |
-0.431463 |
| |
-0.431651 |
| |
-0.432133 |
| |
-0.432172 |
| |
-0.432225 |
| |
-0.432349 |
| |
-0.432367 |
|
|
|
|
|
 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.
|
