|
|
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 |
| |
-0.810402 |
| |
-0.810432 |
| |
-0.810487 |
| |
-0.810836 |
| |
-0.811111 |
| |
-0.811133 |
| |
-0.811654 |
| |
-0.811759 |
| |
-0.811857 |
| |
-0.812023 |
| |
-0.812190 |
| |
-0.812190 |
| |
-0.812635 |
| |
-0.812654 |
| |
-0.812666 |
| |
-0.812809 |
| |
-0.812859 |
| |
-0.812941 |
| |
-0.813307 |
| |
-0.813472 |
| |
-0.813481 |
| |
-0.813501 |
| |
-0.813708 |
| |
-0.813844 |
| |
-0.814136 |
|
|
|
|
|
 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.
|
