|
|
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 |
| |
-0.556707 |
| |
-0.556707 |
| |
-0.556969 |
| |
-0.557203 |
| |
-0.557650 |
| |
-0.557796 |
| |
-0.557942 |
| |
-0.558163 |
| |
-0.558245 |
| |
-0.558403 |
| |
-0.559231 |
| |
-0.560696 |
| |
-0.561229 |
| |
-0.561351 |
| |
-0.562470 |
| |
-0.562548 |
| |
-0.563907 |
| |
-0.563938 |
| |
-0.564171 |
| |
-0.564211 |
| |
-0.564760 |
| |
-0.564854 |
| |
-0.565187 |
| |
-0.565318 |
| |
-0.566019 |
|
|
|
|
|
 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.
|
