|
|
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 |
| |
-0.127250 |
| |
-0.127291 |
| |
-0.127562 |
| |
-0.127566 |
| |
-0.127761 |
| |
-0.127862 |
| |
-0.127882 |
| |
-0.128079 |
| |
-0.128084 |
| |
-0.128209 |
| |
-0.128308 |
| |
-0.128420 |
| |
-0.128580 |
| |
-0.128628 |
| |
-0.128632 |
| |
-0.128691 |
| |
-0.128746 |
| |
-0.128768 |
| |
-0.129392 |
| |
-0.129686 |
| |
-0.129761 |
| |
-0.130126 |
| |
-0.130157 |
| |
-0.130190 |
| |
-0.130252 |
|
|
|
|
|
 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.
|
