|
|
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 |
| |
-0.446577 |
| |
-0.446593 |
| |
-0.446688 |
| |
-0.446701 |
| |
-0.446748 |
| |
-0.446768 |
| |
-0.446771 |
| |
-0.447041 |
| |
-0.447379 |
| |
-0.447447 |
| |
-0.447452 |
| |
-0.447574 |
| |
-0.447615 |
| |
-0.447715 |
| |
-0.447744 |
| |
-0.447811 |
| |
-0.447847 |
| |
-0.447918 |
| |
-0.448158 |
| |
-0.448213 |
| |
-0.448377 |
| |
-0.448834 |
| |
-0.448834 |
| |
-0.448869 |
| |
-0.448998 |
|
|
|
|
|
 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.
|
