|
|
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 |
| |
-0.701510 |
| |
-0.701894 |
| |
-0.702192 |
| |
-0.702442 |
| |
-0.702482 |
| |
-0.702487 |
| |
-0.702602 |
| |
-0.702721 |
| |
-0.702775 |
| |
-0.702924 |
| |
-0.703366 |
| |
-0.703711 |
| |
-0.703724 |
| |
-0.703798 |
| |
-0.704079 |
| |
-0.704495 |
| |
-0.704560 |
| |
-0.704998 |
| |
-0.705000 |
| |
-0.705118 |
| |
-0.705226 |
| |
-0.705376 |
| |
-0.705414 |
| |
-0.705422 |
| |
-0.705736 |
|
|
|
|
|
 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.
|
