|
|
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 |
| |
-0.414329 |
| |
-0.414454 |
| |
-0.414559 |
| |
-0.414865 |
| |
-0.414899 |
| |
-0.415235 |
| |
-0.415296 |
| |
-0.415375 |
| |
-0.415425 |
| |
-0.415749 |
| |
-0.415855 |
| |
-0.415891 |
| |
-0.415953 |
| |
-0.415994 |
| |
-0.416049 |
| |
-0.416054 |
| |
-0.416106 |
| |
-0.416309 |
| |
-0.416346 |
| |
-0.416614 |
| |
-0.416678 |
| |
-0.416695 |
| |
-0.416798 |
| |
-0.416848 |
| |
-0.416918 |
|
|
|
|
|
 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.
|
