|
|
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 |
| |
-0.728383 |
| |
-0.728550 |
| |
-0.728594 |
| |
-0.728673 |
| |
-0.729115 |
| |
-0.729256 |
| |
-0.729375 |
| |
-0.729447 |
| |
-0.729934 |
| |
-0.730514 |
| |
-0.730814 |
| |
-0.731321 |
| |
-0.731772 |
| |
-0.731851 |
| |
-0.732722 |
| |
-0.732959 |
| |
-0.733057 |
| |
-0.733113 |
| |
-0.733120 |
| |
-0.733236 |
| |
-0.733631 |
| |
-0.733655 |
| |
-0.734097 |
| |
-0.734417 |
| |
-0.734941 |
|
|
|
|
|
 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.
|
