|
|
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 |
| |
-0.571686 |
| |
-0.571709 |
| |
-0.571851 |
| |
-0.571965 |
| |
-0.572040 |
| |
-0.572102 |
| |
-0.572116 |
| |
-0.572335 |
| |
-0.572552 |
| |
-0.572666 |
| |
-0.572730 |
| |
-0.572789 |
| |
-0.572827 |
| |
-0.573033 |
| |
-0.573181 |
| |
-0.573455 |
| |
-0.573525 |
| |
-0.573616 |
| |
-0.573625 |
| |
-0.573639 |
| |
-0.574263 |
| |
-0.574902 |
| |
-0.575071 |
| |
-0.575349 |
| |
-0.575365 |
|
|
|
|
|
 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.
|
