|
|
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 |
| |
-0.102391 |
| |
-0.102416 |
| |
-0.102454 |
| |
-0.102478 |
| |
-0.102510 |
| |
-0.102521 |
| |
-0.102632 |
| |
-0.102684 |
| |
-0.102781 |
| |
-0.102818 |
| |
-0.102825 |
| |
-0.102886 |
| |
-0.102887 |
| |
-0.102907 |
| |
-0.102914 |
| |
-0.103090 |
| |
-0.103131 |
| |
-0.103238 |
| |
-0.103261 |
| |
-0.103275 |
| |
-0.103303 |
| |
-0.103315 |
| |
-0.103350 |
| |
-0.103371 |
| |
-0.103392 |
|
|
|
|
|
 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.
|
