|
|
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 |
| |
-0.037077 |
| |
-0.037088 |
| |
-0.037184 |
| |
-0.037193 |
| |
-0.037225 |
| |
-0.037245 |
| |
-0.037245 |
| |
-0.037253 |
| |
-0.037316 |
| |
-0.037428 |
| |
-0.037452 |
| |
-0.037461 |
| |
-0.037508 |
| |
-0.037574 |
| |
-0.037597 |
| |
-0.037684 |
| |
-0.037766 |
| |
-0.037779 |
| |
-0.037820 |
| |
-0.037827 |
| |
-0.037840 |
| |
-0.037940 |
| |
-0.037952 |
| |
-0.037965 |
| |
-0.037970 |
|
|
|
|
|
 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.
|
