|
|
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 |
| |
-0.863354 |
| |
-0.863829 |
| |
-0.863880 |
| |
-0.864539 |
| |
-0.865751 |
| |
-0.865895 |
| |
-0.866925 |
| |
-0.869596 |
| |
-0.869904 |
| |
-0.870061 |
| |
-0.870085 |
| |
-0.870090 |
| |
-0.870338 |
| |
-0.870746 |
| |
-0.870792 |
| |
-0.871218 |
| |
-0.871839 |
| |
-0.872133 |
| |
-0.873141 |
| |
-0.873946 |
| |
-0.874928 |
| |
-0.874994 |
| |
-0.875257 |
| |
-0.875516 |
| |
-0.875781 |
|
|
|
|
|
 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.
|
