|
|
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 |
| |
-0.487266 |
| |
-0.487665 |
| |
-0.487789 |
| |
-0.487794 |
| |
-0.487804 |
| |
-0.488190 |
| |
-0.488422 |
| |
-0.488647 |
| |
-0.488654 |
| |
-0.488806 |
| |
-0.488880 |
| |
-0.489013 |
| |
-0.489147 |
| |
-0.489229 |
| |
-0.489361 |
| |
-0.489641 |
| |
-0.489646 |
| |
-0.489714 |
| |
-0.490187 |
| |
-0.490662 |
| |
-0.490774 |
| |
-0.490793 |
| |
-0.490923 |
| |
-0.491020 |
| |
-0.491196 |
|
|
|
|
|
 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.
|
