|
|
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 |
| |
-0.504845 |
| |
-0.504874 |
| |
-0.504972 |
| |
-0.505001 |
| |
-0.505131 |
| |
-0.505211 |
| |
-0.505256 |
| |
-0.505278 |
| |
-0.505309 |
| |
-0.505400 |
| |
-0.505468 |
| |
-0.505499 |
| |
-0.505592 |
| |
-0.505690 |
| |
-0.505707 |
| |
-0.505762 |
| |
-0.505882 |
| |
-0.505894 |
| |
-0.505908 |
| |
-0.505945 |
| |
-0.506136 |
| |
-0.506269 |
| |
-0.506280 |
| |
-0.506312 |
| |
-0.506504 |
|
|
|
|
|
 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.
|
