|
|
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 |
| |
-0.520152 |
| |
-0.520168 |
| |
-0.520198 |
| |
-0.520387 |
| |
-0.520528 |
| |
-0.521009 |
| |
-0.521114 |
| |
-0.521196 |
| |
-0.521308 |
| |
-0.521747 |
| |
-0.521747 |
| |
-0.522077 |
| |
-0.522338 |
| |
-0.522338 |
| |
-0.522826 |
| |
-0.522832 |
| |
-0.523126 |
| |
-0.523247 |
| |
-0.523275 |
| |
-0.523734 |
| |
-0.523846 |
| |
-0.523982 |
| |
-0.524004 |
| |
-0.524031 |
| |
-0.524039 |
|
|
|
|
|
 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.
|
