|
|
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 |
| |
-0.709035 |
| |
-0.709063 |
| |
-0.709184 |
| |
-0.709234 |
| |
-0.709244 |
| |
-0.709550 |
| |
-0.709644 |
| |
-0.709901 |
| |
-0.710042 |
| |
-0.710117 |
| |
-0.710278 |
| |
-0.710287 |
| |
-0.710334 |
| |
-0.710355 |
| |
-0.710364 |
| |
-0.710448 |
| |
-0.710499 |
| |
-0.710512 |
| |
-0.710530 |
| |
-0.710769 |
| |
-0.710769 |
| |
-0.710916 |
| |
-0.710922 |
| |
-0.710933 |
| |
-0.710943 |
|
|
|
|
|
 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.
|
