|
|
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 |
| |
-0.362151 |
| |
-0.362327 |
| |
-0.362347 |
| |
-0.362688 |
| |
-0.363023 |
| |
-0.363031 |
| |
-0.363108 |
| |
-0.363123 |
| |
-0.363346 |
| |
-0.363450 |
| |
-0.363723 |
| |
-0.363785 |
| |
-0.363957 |
| |
-0.364202 |
| |
-0.364220 |
| |
-0.364438 |
| |
-0.364438 |
| |
-0.364441 |
| |
-0.364476 |
| |
-0.364513 |
| |
-0.364633 |
| |
-0.364689 |
| |
-0.364708 |
| |
-0.364759 |
| |
-0.364928 |
|
|
|
|
|
 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.
|
