|
|
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 |
| |
-0.585419 |
| |
-0.585492 |
| |
-0.585533 |
| |
-0.585596 |
| |
-0.585720 |
| |
-0.585760 |
| |
-0.585797 |
| |
-0.585875 |
| |
-0.585927 |
| |
-0.586042 |
| |
-0.586129 |
| |
-0.586175 |
| |
-0.586186 |
| |
-0.586288 |
| |
-0.586296 |
| |
-0.586300 |
| |
-0.586526 |
| |
-0.586813 |
| |
-0.586975 |
| |
-0.586975 |
| |
-0.586991 |
| |
-0.587036 |
| |
-0.587097 |
| |
-0.587151 |
| |
-0.587164 |
|
|
|
|
|
 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.
|
