|
|
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 |
| |
-0.113773 |
| |
-0.114294 |
| |
-0.114305 |
| |
-0.114910 |
| |
-0.115207 |
| |
-0.115372 |
| |
-0.115593 |
| |
-0.115813 |
| |
-0.116057 |
| |
-0.116244 |
| |
-0.116317 |
| |
-0.116354 |
| |
-0.116661 |
| |
-0.116681 |
| |
-0.116836 |
| |
-0.116840 |
| |
-0.116995 |
| |
-0.118161 |
| |
-0.118308 |
| |
-0.118411 |
| |
-0.118470 |
| |
-0.118543 |
| |
-0.118733 |
| |
-0.118843 |
| |
-0.119178 |
|
|
|
|
|
 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.
|
