|
|
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 |
| |
-0.535382 |
| |
-0.535521 |
| |
-0.535645 |
| |
-0.535707 |
| |
-0.535759 |
| |
-0.535873 |
| |
-0.535955 |
| |
-0.535969 |
| |
-0.536054 |
| |
-0.536165 |
| |
-0.536228 |
| |
-0.536385 |
| |
-0.536398 |
| |
-0.536514 |
| |
-0.536558 |
| |
-0.536701 |
| |
-0.536919 |
| |
-0.536947 |
| |
-0.536952 |
| |
-0.536984 |
| |
-0.537025 |
| |
-0.537117 |
| |
-0.537182 |
| |
-0.537299 |
| |
-0.537653 |
|
|
|
|
|
 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.
|
