|
|
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 |
| |
-0.263820 |
| |
-0.263942 |
| |
-0.263987 |
| |
-0.264081 |
| |
-0.264169 |
| |
-0.264328 |
| |
-0.264544 |
| |
-0.264604 |
| |
-0.264655 |
| |
-0.265120 |
| |
-0.265331 |
| |
-0.265417 |
| |
-0.265582 |
| |
-0.265647 |
| |
-0.265811 |
| |
-0.266209 |
| |
-0.266468 |
| |
-0.266468 |
| |
-0.266515 |
| |
-0.266555 |
| |
-0.266642 |
| |
-0.266754 |
| |
-0.267009 |
| |
-0.267144 |
| |
-0.267199 |
|
|
|
|
|
 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.
|
