|
|
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 |
| |
-0.493991 |
| |
-0.494886 |
| |
-0.495107 |
| |
-0.495304 |
| |
-0.495347 |
| |
-0.495708 |
| |
-0.496061 |
| |
-0.497104 |
| |
-0.497141 |
| |
-0.497172 |
| |
-0.497292 |
| |
-0.497330 |
| |
-0.498170 |
| |
-0.498387 |
| |
-0.498445 |
| |
-0.498493 |
| |
-0.498727 |
| |
-0.498858 |
| |
-0.498961 |
| |
-0.499661 |
| |
-0.499661 |
| |
-0.500166 |
| |
-0.500208 |
| |
-0.500431 |
| |
-0.500466 |
|
|
|
|
|
 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.
|
