|
|
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 |
| |
-0.063035 |
| |
-0.063185 |
| |
-0.063253 |
| |
-0.063300 |
| |
-0.063310 |
| |
-0.063336 |
| |
-0.063528 |
| |
-0.063539 |
| |
-0.063733 |
| |
-0.063748 |
| |
-0.063850 |
| |
-0.063880 |
| |
-0.063889 |
| |
-0.063898 |
| |
-0.064017 |
| |
-0.064035 |
| |
-0.064083 |
| |
-0.064111 |
| |
-0.064121 |
| |
-0.064134 |
| |
-0.064135 |
| |
-0.064202 |
| |
-0.064230 |
| |
-0.064239 |
| |
-0.064256 |
|
|
|
|
|
 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.
|
