|
|
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 |
| |
-0.489564 |
| |
-0.489783 |
| |
-0.489800 |
| |
-0.489899 |
| |
-0.489916 |
| |
-0.490136 |
| |
-0.490241 |
| |
-0.490403 |
| |
-0.490462 |
| |
-0.490502 |
| |
-0.490728 |
| |
-0.490751 |
| |
-0.490752 |
| |
-0.490991 |
| |
-0.491173 |
| |
-0.491387 |
| |
-0.491506 |
| |
-0.491523 |
| |
-0.491664 |
| |
-0.492044 |
| |
-0.492060 |
| |
-0.492118 |
| |
-0.492199 |
| |
-0.492378 |
| |
-0.492396 |
|
|
|
|
|
 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.
|
