|
|
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 |
| |
-0.276773 |
| |
-0.276774 |
| |
-0.276816 |
| |
-0.276866 |
| |
-0.276868 |
| |
-0.276877 |
| |
-0.276908 |
| |
-0.276934 |
| |
-0.276938 |
| |
-0.277021 |
| |
-0.277052 |
| |
-0.277052 |
| |
-0.277137 |
| |
-0.277146 |
| |
-0.277189 |
| |
-0.277194 |
| |
-0.277200 |
| |
-0.277233 |
| |
-0.277275 |
| |
-0.277318 |
| |
-0.277319 |
| |
-0.277330 |
| |
-0.277346 |
| |
-0.277403 |
| |
-0.277433 |
|
|
|
|
|
 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.
|
