|
|
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 |
| |
-0.527555 |
| |
-0.527587 |
| |
-0.527596 |
| |
-0.527645 |
| |
-0.527668 |
| |
-0.527755 |
| |
-0.527769 |
| |
-0.527775 |
| |
-0.527786 |
| |
-0.527870 |
| |
-0.527888 |
| |
-0.527908 |
| |
-0.527956 |
| |
-0.527967 |
| |
-0.528071 |
| |
-0.528077 |
| |
-0.528125 |
| |
-0.528195 |
| |
-0.528302 |
| |
-0.528308 |
| |
-0.528341 |
| |
-0.528384 |
| |
-0.528387 |
| |
-0.528397 |
| |
-0.528570 |
|
|
|
|
|
 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.
|
