|
|
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 |
| |
-0.530787 |
| |
-0.530795 |
| |
-0.530807 |
| |
-0.530956 |
| |
-0.531032 |
| |
-0.531038 |
| |
-0.531095 |
| |
-0.531265 |
| |
-0.531388 |
| |
-0.531486 |
| |
-0.531534 |
| |
-0.531538 |
| |
-0.531677 |
| |
-0.531698 |
| |
-0.531719 |
| |
-0.531819 |
| |
-0.531926 |
| |
-0.532066 |
| |
-0.532196 |
| |
-0.532269 |
| |
-0.532277 |
| |
-0.532308 |
| |
-0.532359 |
| |
-0.532368 |
| |
-0.532373 |
|
|
|
|
|
 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.
|
