|
|
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 |
| |
-0.221987 |
| |
-0.222092 |
| |
-0.222215 |
| |
-0.222238 |
| |
-0.222296 |
| |
-0.223092 |
| |
-0.223339 |
| |
-0.223342 |
| |
-0.223528 |
| |
-0.223984 |
| |
-0.224098 |
| |
-0.224230 |
| |
-0.224574 |
| |
-0.224639 |
| |
-0.224639 |
| |
-0.225104 |
| |
-0.225519 |
| |
-0.225635 |
| |
-0.225816 |
| |
-0.226155 |
| |
-0.226197 |
| |
-0.226324 |
| |
-0.226336 |
| |
-0.226336 |
| |
-0.226956 |
|
|
|
|
|
 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.
|
