|
|
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 |
| |
-0.154963 |
| |
-0.155070 |
| |
-0.155334 |
| |
-0.155494 |
| |
-0.155542 |
| |
-0.155611 |
| |
-0.156017 |
| |
-0.156218 |
| |
-0.156371 |
| |
-0.156380 |
| |
-0.157174 |
| |
-0.157343 |
| |
-0.157715 |
| |
-0.157722 |
| |
-0.157750 |
| |
-0.157775 |
| |
-0.157886 |
| |
-0.157937 |
| |
-0.157941 |
| |
-0.158217 |
| |
-0.158346 |
| |
-0.158560 |
| |
-0.158586 |
| |
-0.158624 |
| |
-0.158659 |
|
|
|
|
|
 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.
|
