|
|
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 |
| |
-0.379086 |
| |
-0.379165 |
| |
-0.379181 |
| |
-0.379203 |
| |
-0.379281 |
| |
-0.379315 |
| |
-0.379344 |
| |
-0.379369 |
| |
-0.379403 |
| |
-0.379419 |
| |
-0.379475 |
| |
-0.379507 |
| |
-0.379613 |
| |
-0.379686 |
| |
-0.379734 |
| |
-0.379899 |
| |
-0.379984 |
| |
-0.380025 |
| |
-0.380025 |
| |
-0.380127 |
| |
-0.380173 |
| |
-0.380206 |
| |
-0.380226 |
| |
-0.380398 |
| |
-0.380421 |
|
|
|
|
|
 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.
|
