|
|
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 |
| |
-0.539338 |
| |
-0.539426 |
| |
-0.539455 |
| |
-0.539465 |
| |
-0.539484 |
| |
-0.540091 |
| |
-0.540161 |
| |
-0.540222 |
| |
-0.541054 |
| |
-0.541124 |
| |
-0.541370 |
| |
-0.541678 |
| |
-0.541889 |
| |
-0.542038 |
| |
-0.542143 |
| |
-0.542806 |
| |
-0.542865 |
| |
-0.542865 |
| |
-0.543394 |
| |
-0.543433 |
| |
-0.543492 |
| |
-0.543598 |
| |
-0.543862 |
| |
-0.543937 |
| |
-0.544156 |
|
|
|
|
|
 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.
|
