|
|
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 |
| |
-0.429740 |
| |
-0.429773 |
| |
-0.429796 |
| |
-0.429813 |
| |
-0.429911 |
| |
-0.430035 |
| |
-0.430089 |
| |
-0.430114 |
| |
-0.430131 |
| |
-0.430171 |
| |
-0.430187 |
| |
-0.430299 |
| |
-0.430341 |
| |
-0.430505 |
| |
-0.430680 |
| |
-0.430762 |
| |
-0.430765 |
| |
-0.430890 |
| |
-0.430923 |
| |
-0.431048 |
| |
-0.431110 |
| |
-0.431413 |
| |
-0.431458 |
| |
-0.431597 |
| |
-0.431677 |
|
|
|
|
|
 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.
|
