|
|
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 |
| |
-0.553048 |
| |
-0.553167 |
| |
-0.553303 |
| |
-0.553342 |
| |
-0.553578 |
| |
-0.553635 |
| |
-0.553635 |
| |
-0.553833 |
| |
-0.553902 |
| |
-0.554129 |
| |
-0.554151 |
| |
-0.554156 |
| |
-0.554337 |
| |
-0.554359 |
| |
-0.554407 |
| |
-0.554439 |
| |
-0.554561 |
| |
-0.554605 |
| |
-0.554645 |
| |
-0.554771 |
| |
-0.554780 |
| |
-0.554863 |
| |
-0.554864 |
| |
-0.554926 |
| |
-0.555102 |
|
|
|
|
|
 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.
|
