|
|
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 |
| |
-0.351618 |
| |
-0.351889 |
| |
-0.351917 |
| |
-0.351941 |
| |
-0.351978 |
| |
-0.352017 |
| |
-0.352053 |
| |
-0.352382 |
| |
-0.352383 |
| |
-0.352521 |
| |
-0.352741 |
| |
-0.352842 |
| |
-0.352847 |
| |
-0.353038 |
| |
-0.353112 |
| |
-0.353137 |
| |
-0.353225 |
| |
-0.353246 |
| |
-0.353307 |
| |
-0.353554 |
| |
-0.353655 |
| |
-0.353805 |
| |
-0.353805 |
| |
-0.353844 |
| |
-0.353945 |
|
|
|
|
|
 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.
|
