|
|
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 |
| |
-0.494894 |
| |
-0.494949 |
| |
-0.495533 |
| |
-0.495559 |
| |
-0.495607 |
| |
-0.495647 |
| |
-0.495682 |
| |
-0.495710 |
| |
-0.495783 |
| |
-0.495796 |
| |
-0.495796 |
| |
-0.495799 |
| |
-0.495826 |
| |
-0.495840 |
| |
-0.495897 |
| |
-0.496147 |
| |
-0.496148 |
| |
-0.496208 |
| |
-0.496211 |
| |
-0.496238 |
| |
-0.496256 |
| |
-0.496435 |
| |
-0.496435 |
| |
-0.496732 |
| |
-0.496766 |
|
|
|
|
|
 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.
|
