|
|
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 |
| |
-0.591997 |
| |
-0.592059 |
| |
-0.592083 |
| |
-0.592116 |
| |
-0.592174 |
| |
-0.592221 |
| |
-0.592241 |
| |
-0.592287 |
| |
-0.592310 |
| |
-0.592348 |
| |
-0.592490 |
| |
-0.592579 |
| |
-0.592710 |
| |
-0.592820 |
| |
-0.593181 |
| |
-0.593187 |
| |
-0.593380 |
| |
-0.593617 |
| |
-0.593681 |
| |
-0.593838 |
| |
-0.594120 |
| |
-0.594294 |
| |
-0.594294 |
| |
-0.594302 |
| |
-0.594303 |
|
|
|
|
|
 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.
|
