|
|
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 |
| |
-0.038871 |
| |
-0.039021 |
| |
-0.039052 |
| |
-0.039056 |
| |
-0.039056 |
| |
-0.039126 |
| |
-0.039177 |
| |
-0.039179 |
| |
-0.039193 |
| |
-0.039205 |
| |
-0.039259 |
| |
-0.039270 |
| |
-0.039284 |
| |
-0.039311 |
| |
-0.039318 |
| |
-0.039328 |
| |
-0.039334 |
| |
-0.039360 |
| |
-0.039415 |
| |
-0.039464 |
| |
-0.039506 |
| |
-0.039667 |
| |
-0.039746 |
| |
-0.039772 |
| |
-0.039772 |
|
|
|
|
|
 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.
|
