|
|
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 |
| |
-0.146030 |
| |
-0.146054 |
| |
-0.146098 |
| |
-0.146123 |
| |
-0.146137 |
| |
-0.146152 |
| |
-0.146174 |
| |
-0.146304 |
| |
-0.146306 |
| |
-0.146308 |
| |
-0.146323 |
| |
-0.146332 |
| |
-0.146341 |
| |
-0.146362 |
| |
-0.146424 |
| |
-0.146444 |
| |
-0.146482 |
| |
-0.146524 |
| |
-0.146563 |
| |
-0.146577 |
| |
-0.146634 |
| |
-0.146654 |
| |
-0.146696 |
| |
-0.146754 |
| |
-0.146767 |
|
|
|
|
|
 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.
|
