|
|
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 |
| |
-0.278417 |
| |
-0.278437 |
| |
-0.278471 |
| |
-0.278496 |
| |
-0.278521 |
| |
-0.278536 |
| |
-0.278537 |
| |
-0.278594 |
| |
-0.278601 |
| |
-0.278696 |
| |
-0.278746 |
| |
-0.278759 |
| |
-0.278778 |
| |
-0.278778 |
| |
-0.278806 |
| |
-0.278816 |
| |
-0.278876 |
| |
-0.278900 |
| |
-0.278917 |
| |
-0.278938 |
| |
-0.278946 |
| |
-0.278987 |
| |
-0.279067 |
| |
-0.279087 |
| |
-0.279124 |
|
|
|
|
|
 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.
|
