|
|
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 |
| |
-0.556433 |
| |
-0.556611 |
| |
-0.556613 |
| |
-0.556845 |
| |
-0.556866 |
| |
-0.556910 |
| |
-0.556924 |
| |
-0.556956 |
| |
-0.556983 |
| |
-0.557028 |
| |
-0.557056 |
| |
-0.557072 |
| |
-0.557098 |
| |
-0.557158 |
| |
-0.557213 |
| |
-0.557254 |
| |
-0.557307 |
| |
-0.557388 |
| |
-0.557548 |
| |
-0.557598 |
| |
-0.557599 |
| |
-0.557931 |
| |
-0.558094 |
| |
-0.558149 |
| |
-0.558336 |
|
|
|
|
|
 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.
|
