|
|
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 |
| |
-0.582675 |
| |
-0.582722 |
| |
-0.582724 |
| |
-0.583008 |
| |
-0.583037 |
| |
-0.583583 |
| |
-0.583763 |
| |
-0.583775 |
| |
-0.583968 |
| |
-0.584003 |
| |
-0.584140 |
| |
-0.584411 |
| |
-0.584411 |
| |
-0.584423 |
| |
-0.584574 |
| |
-0.585073 |
| |
-0.585188 |
| |
-0.585365 |
| |
-0.585798 |
| |
-0.585960 |
| |
-0.585971 |
| |
-0.585971 |
| |
-0.586076 |
| |
-0.586304 |
| |
-0.586631 |
|
|
|
|
|
 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.
|
