|
|
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 |
| |
-0.224663 |
| |
-0.224807 |
| |
-0.224815 |
| |
-0.224837 |
| |
-0.224944 |
| |
-0.225168 |
| |
-0.225176 |
| |
-0.225208 |
| |
-0.225227 |
| |
-0.225348 |
| |
-0.225383 |
| |
-0.225619 |
| |
-0.225701 |
| |
-0.225739 |
| |
-0.225800 |
| |
-0.226096 |
| |
-0.226143 |
| |
-0.226340 |
| |
-0.226567 |
| |
-0.226672 |
| |
-0.226720 |
| |
-0.226934 |
| |
-0.227111 |
| |
-0.227190 |
| |
-0.227357 |
|
|
|
|
|
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.
|