|
|
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 |
| |
-0.182441 |
| |
-0.182550 |
| |
-0.182621 |
| |
-0.182690 |
| |
-0.182774 |
| |
-0.182813 |
| |
-0.182856 |
| |
-0.182884 |
| |
-0.183006 |
| |
-0.183330 |
| |
-0.183416 |
| |
-0.183455 |
| |
-0.183664 |
| |
-0.183934 |
| |
-0.183966 |
| |
-0.184019 |
| |
-0.184082 |
| |
-0.184084 |
| |
-0.184102 |
| |
-0.184112 |
| |
-0.184235 |
| |
-0.184255 |
| |
-0.184685 |
| |
-0.184687 |
| |
-0.184755 |
|
|
|
|
|
 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.
|
