|
|
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 |
| |
-0.231206 |
| |
-0.231224 |
| |
-0.231289 |
| |
-0.231526 |
| |
-0.231709 |
| |
-0.231850 |
| |
-0.231860 |
| |
-0.231999 |
| |
-0.232027 |
| |
-0.232167 |
| |
-0.232173 |
| |
-0.232200 |
| |
-0.232281 |
| |
-0.232285 |
| |
-0.232306 |
| |
-0.232370 |
| |
-0.232387 |
| |
-0.232405 |
| |
-0.232685 |
| |
-0.232734 |
| |
-0.232767 |
| |
-0.233137 |
| |
-0.233412 |
| |
-0.233467 |
| |
-0.233513 |
|
|
|
|
|
 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.
|
