|
|
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 |
| |
-0.239195 |
| |
-0.239340 |
| |
-0.239396 |
| |
-0.239458 |
| |
-0.240001 |
| |
-0.240042 |
| |
-0.240051 |
| |
-0.240087 |
| |
-0.240112 |
| |
-0.240113 |
| |
-0.240136 |
| |
-0.240152 |
| |
-0.240498 |
| |
-0.240650 |
| |
-0.240836 |
| |
-0.240888 |
| |
-0.240984 |
| |
-0.241258 |
| |
-0.241497 |
| |
-0.241526 |
| |
-0.241715 |
| |
-0.241797 |
| |
-0.241810 |
| |
-0.241907 |
| |
-0.242031 |
|
|
|
|
|
 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.
|
