|
|
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 |
| |
-0.350856 |
| |
-0.350871 |
| |
-0.350891 |
| |
-0.350961 |
| |
-0.351112 |
| |
-0.351116 |
| |
-0.351281 |
| |
-0.351291 |
| |
-0.351344 |
| |
-0.351439 |
| |
-0.351439 |
| |
-0.351440 |
| |
-0.351462 |
| |
-0.351488 |
| |
-0.351631 |
| |
-0.351671 |
| |
-0.351903 |
| |
-0.351925 |
| |
-0.351964 |
| |
-0.351968 |
| |
-0.351973 |
| |
-0.352037 |
| |
-0.352112 |
| |
-0.352205 |
| |
-0.352271 |
|
|
|
|
|
 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.
|
