|
|
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 |
| |
-0.225181 |
| |
-0.225188 |
| |
-0.225205 |
| |
-0.225423 |
| |
-0.225471 |
| |
-0.225482 |
| |
-0.225731 |
| |
-0.225810 |
| |
-0.226021 |
| |
-0.226272 |
| |
-0.226343 |
| |
-0.226349 |
| |
-0.226536 |
| |
-0.226731 |
| |
-0.226781 |
| |
-0.226781 |
| |
-0.226784 |
| |
-0.226814 |
| |
-0.226828 |
| |
-0.226974 |
| |
-0.227033 |
| |
-0.227090 |
| |
-0.227210 |
| |
-0.227486 |
| |
-0.228050 |
|
|
|
|
|
 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.
|
