|
|
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 |
| |
-0.053002 |
| |
-0.053097 |
| |
-0.053328 |
| |
-0.053914 |
| |
-0.053917 |
| |
-0.053930 |
| |
-0.054031 |
| |
-0.054038 |
| |
-0.054077 |
| |
-0.054113 |
| |
-0.054394 |
| |
-0.054520 |
| |
-0.055124 |
| |
-0.055134 |
| |
-0.055174 |
| |
-0.055311 |
| |
-0.055729 |
| |
-0.055767 |
| |
-0.055996 |
| |
-0.056215 |
| |
-0.056326 |
| |
-0.056595 |
| |
-0.056916 |
| |
-0.057018 |
| |
-0.057226 |
|
|
|
|
|
 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.
|
