|
|
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 |
| |
-0.269287 |
| |
-0.269386 |
| |
-0.269511 |
| |
-0.269537 |
| |
-0.269613 |
| |
-0.270134 |
| |
-0.270244 |
| |
-0.270312 |
| |
-0.270451 |
| |
-0.270493 |
| |
-0.270591 |
| |
-0.270603 |
| |
-0.270736 |
| |
-0.270749 |
| |
-0.270980 |
| |
-0.271141 |
| |
-0.271168 |
| |
-0.271226 |
| |
-0.271250 |
| |
-0.271305 |
| |
-0.271331 |
| |
-0.271332 |
| |
-0.271513 |
| |
-0.271652 |
| |
-0.271747 |
|
|
|
|
|
 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.
|
