|
|
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 |
| |
-0.644827 |
| |
-0.644867 |
| |
-0.644869 |
| |
-0.644945 |
| |
-0.644978 |
| |
-0.645012 |
| |
-0.645225 |
| |
-0.645247 |
| |
-0.645251 |
| |
-0.645311 |
| |
-0.645333 |
| |
-0.645383 |
| |
-0.645464 |
| |
-0.645657 |
| |
-0.645878 |
| |
-0.645949 |
| |
-0.645956 |
| |
-0.645987 |
| |
-0.646077 |
| |
-0.646105 |
| |
-0.646166 |
| |
-0.646225 |
| |
-0.646449 |
| |
-0.646502 |
| |
-0.646521 |
|
|
|
|
|
 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.
|
