|
|
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 |
| |
-0.364591 |
| |
-0.364621 |
| |
-0.364625 |
| |
-0.364686 |
| |
-0.364696 |
| |
-0.364708 |
| |
-0.364710 |
| |
-0.364739 |
| |
-0.364834 |
| |
-0.364888 |
| |
-0.364975 |
| |
-0.364979 |
| |
-0.365024 |
| |
-0.365032 |
| |
-0.365088 |
| |
-0.365088 |
| |
-0.365112 |
| |
-0.365131 |
| |
-0.365175 |
| |
-0.365206 |
| |
-0.365217 |
| |
-0.365316 |
| |
-0.365422 |
| |
-0.365450 |
| |
-0.365646 |
|
|
|
|
|
 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.
|
