|
|
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 |
| |
-0.001723 |
| |
-0.001763 |
| |
-0.001826 |
| |
-0.001867 |
| |
-0.001937 |
| |
-0.002137 |
| |
-0.002222 |
| |
-0.002256 |
| |
-0.002368 |
| |
-0.002538 |
| |
-0.002828 |
| |
-0.003062 |
| |
-0.003195 |
| |
-0.003340 |
| |
-0.003422 |
| |
-0.004088 |
| |
-0.004202 |
| |
-0.004393 |
| |
-0.004464 |
| |
-0.004495 |
| |
-0.004539 |
| |
-0.004849 |
| |
-0.005513 |
| |
-0.005689 |
| |
-0.005695 |
|
|
|
|
|
 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.
|
