|
|
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 |
| |
-0.669713 |
| |
-0.669713 |
| |
-0.669762 |
| |
-0.670000 |
| |
-0.670689 |
| |
-0.670991 |
| |
-0.671335 |
| |
-0.671463 |
| |
-0.671463 |
| |
-0.671878 |
| |
-0.672859 |
| |
-0.672926 |
| |
-0.673032 |
| |
-0.673065 |
| |
-0.673149 |
| |
-0.673247 |
| |
-0.673625 |
| |
-0.673686 |
| |
-0.673774 |
| |
-0.674856 |
| |
-0.674928 |
| |
-0.674959 |
| |
-0.675513 |
| |
-0.675613 |
| |
-0.675793 |
|
|
|
|
|
 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.
|
