|
|
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 |
| |
-0.441646 |
| |
-0.441674 |
| |
-0.441911 |
| |
-0.441927 |
| |
-0.441999 |
| |
-0.442023 |
| |
-0.442120 |
| |
-0.442250 |
| |
-0.442341 |
| |
-0.442490 |
| |
-0.442490 |
| |
-0.442520 |
| |
-0.442520 |
| |
-0.442573 |
| |
-0.442980 |
| |
-0.442980 |
| |
-0.443045 |
| |
-0.443106 |
| |
-0.443165 |
| |
-0.443172 |
| |
-0.443380 |
| |
-0.443502 |
| |
-0.443513 |
| |
-0.443531 |
| |
-0.443584 |
|
|
|
|
|
 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.
|
