|
|
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 |
| |
-0.153347 |
| |
-0.153383 |
| |
-0.153453 |
| |
-0.153520 |
| |
-0.153536 |
| |
-0.153558 |
| |
-0.153562 |
| |
-0.153563 |
| |
-0.153608 |
| |
-0.153630 |
| |
-0.153645 |
| |
-0.153658 |
| |
-0.153683 |
| |
-0.153727 |
| |
-0.153789 |
| |
-0.153802 |
| |
-0.153813 |
| |
-0.153918 |
| |
-0.153985 |
| |
-0.153994 |
| |
-0.154153 |
| |
-0.154181 |
| |
-0.154360 |
| |
-0.154372 |
| |
-0.154399 |
|
|
|
|
|
 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.
|
