|
|
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 |
| |
-0.379980 |
| |
-0.380027 |
| |
-0.380242 |
| |
-0.380301 |
| |
-0.380361 |
| |
-0.380434 |
| |
-0.380437 |
| |
-0.380724 |
| |
-0.380751 |
| |
-0.380800 |
| |
-0.380863 |
| |
-0.381029 |
| |
-0.381258 |
| |
-0.381538 |
| |
-0.381575 |
| |
-0.381675 |
| |
-0.381901 |
| |
-0.381912 |
| |
-0.381951 |
| |
-0.382018 |
| |
-0.382540 |
| |
-0.382540 |
| |
-0.382686 |
| |
-0.382946 |
| |
-0.383066 |
|
|
|
|
|
 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.
|
