|
|
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 |
| |
-0.191486 |
| |
-0.191498 |
| |
-0.191535 |
| |
-0.191994 |
| |
-0.192073 |
| |
-0.192132 |
| |
-0.192138 |
| |
-0.192165 |
| |
-0.192175 |
| |
-0.192268 |
| |
-0.192299 |
| |
-0.192341 |
| |
-0.192882 |
| |
-0.193105 |
| |
-0.193113 |
| |
-0.193129 |
| |
-0.193310 |
| |
-0.193397 |
| |
-0.193622 |
| |
-0.193675 |
| |
-0.193987 |
| |
-0.194022 |
| |
-0.194095 |
| |
-0.194246 |
| |
-0.194259 |
|
|
|
|
|
 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.
|
