|
|
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 |
| |
-0.156618 |
| |
-0.156668 |
| |
-0.156710 |
| |
-0.156834 |
| |
-0.156835 |
| |
-0.156851 |
| |
-0.156891 |
| |
-0.156937 |
| |
-0.156956 |
| |
-0.157061 |
| |
-0.157160 |
| |
-0.157212 |
| |
-0.157215 |
| |
-0.157245 |
| |
-0.157354 |
| |
-0.157383 |
| |
-0.157419 |
| |
-0.157484 |
| |
-0.157490 |
| |
-0.157500 |
| |
-0.157690 |
| |
-0.157724 |
| |
-0.157796 |
| |
-0.157813 |
| |
-0.157979 |
|
|
|
|
|
 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.
|
