|
|
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 |
| |
-0.605757 |
| |
-0.605822 |
| |
-0.605858 |
| |
-0.605866 |
| |
-0.605890 |
| |
-0.605931 |
| |
-0.606181 |
| |
-0.606355 |
| |
-0.606439 |
| |
-0.606597 |
| |
-0.606632 |
| |
-0.606652 |
| |
-0.606665 |
| |
-0.606726 |
| |
-0.606867 |
| |
-0.606923 |
| |
-0.606990 |
| |
-0.607026 |
| |
-0.607122 |
| |
-0.607260 |
| |
-0.607263 |
| |
-0.607340 |
| |
-0.607563 |
| |
-0.607622 |
| |
-0.607722 |
|
|
|
|
|
 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.
|
