|
|
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 |
| |
-0.233252 |
| |
-0.233364 |
| |
-0.233364 |
| |
-0.233443 |
| |
-0.233621 |
| |
-0.233878 |
| |
-0.233913 |
| |
-0.233974 |
| |
-0.234000 |
| |
-0.234128 |
| |
-0.234555 |
| |
-0.234850 |
| |
-0.235135 |
| |
-0.235175 |
| |
-0.235331 |
| |
-0.235502 |
| |
-0.235581 |
| |
-0.235642 |
| |
-0.235728 |
| |
-0.235817 |
| |
-0.235864 |
| |
-0.236140 |
| |
-0.236206 |
| |
-0.236367 |
| |
-0.236367 |
|
|
|
|
|
 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.
|
