|
|
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 |
| |
-0.004066 |
| |
-0.004083 |
| |
-0.004925 |
| |
-0.004941 |
| |
-0.005343 |
| |
-0.005474 |
| |
-0.005491 |
| |
-0.005546 |
| |
-0.005615 |
| |
-0.005743 |
| |
-0.005889 |
| |
-0.006024 |
| |
-0.006261 |
| |
-0.006654 |
| |
-0.006821 |
| |
-0.006841 |
| |
-0.006988 |
| |
-0.007373 |
| |
-0.007908 |
| |
-0.007949 |
| |
-0.008088 |
| |
-0.008148 |
| |
-0.009087 |
| |
-0.009178 |
| |
-0.009449 |
|
|
|
|
|
 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.
|
