|
|
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 |
| |
-0.580761 |
| |
-0.580870 |
| |
-0.580891 |
| |
-0.580997 |
| |
-0.581006 |
| |
-0.581017 |
| |
-0.581032 |
| |
-0.581171 |
| |
-0.581287 |
| |
-0.581408 |
| |
-0.581513 |
| |
-0.581588 |
| |
-0.581798 |
| |
-0.581937 |
| |
-0.582172 |
| |
-0.582548 |
| |
-0.582598 |
| |
-0.582758 |
| |
-0.582890 |
| |
-0.582920 |
| |
-0.582985 |
| |
-0.583040 |
| |
-0.583202 |
| |
-0.583218 |
| |
-0.583403 |
|
|
|
|
|
 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.
|
