|
|
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 |
| |
-0.295398 |
| |
-0.295398 |
| |
-0.295458 |
| |
-0.295511 |
| |
-0.295519 |
| |
-0.295524 |
| |
-0.295549 |
| |
-0.295557 |
| |
-0.295582 |
| |
-0.295582 |
| |
-0.295735 |
| |
-0.295757 |
| |
-0.295829 |
| |
-0.295839 |
| |
-0.295851 |
| |
-0.295863 |
| |
-0.295923 |
| |
-0.295975 |
| |
-0.295983 |
| |
-0.296029 |
| |
-0.296119 |
| |
-0.296133 |
| |
-0.296148 |
| |
-0.296218 |
| |
-0.296257 |
|
|
|
|
|
 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.
|
