|
|
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 |
| |
-0.006937 |
| |
-0.006940 |
| |
-0.006945 |
| |
-0.006979 |
| |
-0.007026 |
| |
-0.007086 |
| |
-0.007178 |
| |
-0.007288 |
| |
-0.007420 |
| |
-0.007440 |
| |
-0.007550 |
| |
-0.007569 |
| |
-0.007712 |
| |
-0.007721 |
| |
-0.007737 |
| |
-0.007767 |
| |
-0.007799 |
| |
-0.007808 |
| |
-0.007821 |
| |
-0.007833 |
| |
-0.007861 |
| |
-0.007861 |
| |
-0.007872 |
| |
-0.007876 |
| |
-0.007898 |
|
|
|
|
|
 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.
|
