|
|
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 |
| |
-0.432641 |
| |
-0.432940 |
| |
-0.432940 |
| |
-0.433160 |
| |
-0.433228 |
| |
-0.433569 |
| |
-0.433642 |
| |
-0.433699 |
| |
-0.433946 |
| |
-0.433957 |
| |
-0.434355 |
| |
-0.434460 |
| |
-0.434580 |
| |
-0.434617 |
| |
-0.434618 |
| |
-0.434990 |
| |
-0.435003 |
| |
-0.435211 |
| |
-0.435279 |
| |
-0.435624 |
| |
-0.435939 |
| |
-0.435960 |
| |
-0.435970 |
| |
-0.437035 |
| |
-0.437120 |
|
|
|
|
|
 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.
|
