|
|
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 |
| |
-0.488914 |
| |
-0.488930 |
| |
-0.488969 |
| |
-0.489069 |
| |
-0.489114 |
| |
-0.489178 |
| |
-0.489246 |
| |
-0.489248 |
| |
-0.489297 |
| |
-0.489443 |
| |
-0.489475 |
| |
-0.489527 |
| |
-0.489789 |
| |
-0.489795 |
| |
-0.489867 |
| |
-0.489883 |
| |
-0.489933 |
| |
-0.489954 |
| |
-0.490143 |
| |
-0.490173 |
| |
-0.490173 |
| |
-0.490204 |
| |
-0.490286 |
| |
-0.490325 |
| |
-0.490373 |
|
|
|
|
|
 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.
|
