|
|
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 |
| |
-0.196633 |
| |
-0.196825 |
| |
-0.196947 |
| |
-0.196951 |
| |
-0.196964 |
| |
-0.197169 |
| |
-0.197459 |
| |
-0.197740 |
| |
-0.197932 |
| |
-0.198001 |
| |
-0.198050 |
| |
-0.198133 |
| |
-0.198338 |
| |
-0.198368 |
| |
-0.198389 |
| |
-0.198447 |
| |
-0.198502 |
| |
-0.198629 |
| |
-0.198711 |
| |
-0.198722 |
| |
-0.198795 |
| |
-0.198882 |
| |
-0.198947 |
| |
-0.199023 |
| |
-0.199067 |
|
|
|
|
|
 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.
|
