|
|
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 |
| |
-0.241380 |
| |
-0.241580 |
| |
-0.241680 |
| |
-0.241786 |
| |
-0.241805 |
| |
-0.242090 |
| |
-0.242161 |
| |
-0.242162 |
| |
-0.242206 |
| |
-0.242548 |
| |
-0.242608 |
| |
-0.242729 |
| |
-0.242857 |
| |
-0.242982 |
| |
-0.243351 |
| |
-0.243516 |
| |
-0.243739 |
| |
-0.243743 |
| |
-0.243772 |
| |
-0.243939 |
| |
-0.243969 |
| |
-0.243970 |
| |
-0.244019 |
| |
-0.244175 |
| |
-0.244268 |
|
|
|
|
|
 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.
|
