|
|
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 |
| |
-0.588815 |
| |
-0.588902 |
| |
-0.588982 |
| |
-0.589136 |
| |
-0.589376 |
| |
-0.589512 |
| |
-0.589937 |
| |
-0.589976 |
| |
-0.589979 |
| |
-0.590155 |
| |
-0.590658 |
| |
-0.590815 |
| |
-0.590935 |
| |
-0.590961 |
| |
-0.591155 |
| |
-0.591233 |
| |
-0.591265 |
| |
-0.591492 |
| |
-0.591511 |
| |
-0.591557 |
| |
-0.591572 |
| |
-0.591635 |
| |
-0.591724 |
| |
-0.591832 |
| |
-0.591927 |
|
|
|
|
|
 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.
|
