|
|
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 |
| |
-0.695347 |
| |
-0.695442 |
| |
-0.695980 |
| |
-0.696530 |
| |
-0.696771 |
| |
-0.696948 |
| |
-0.697617 |
| |
-0.697954 |
| |
-0.698528 |
| |
-0.698712 |
| |
-0.699173 |
| |
-0.699199 |
| |
-0.699674 |
| |
-0.700381 |
| |
-0.700418 |
| |
-0.700766 |
| |
-0.701308 |
| |
-0.701351 |
| |
-0.701763 |
| |
-0.701792 |
| |
-0.701935 |
| |
-0.701935 |
| |
-0.702096 |
| |
-0.702104 |
| |
-0.702147 |
|
|
|
|
|
 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.
|
