|
|
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 |
| |
-0.587183 |
| |
-0.587369 |
| |
-0.587428 |
| |
-0.587454 |
| |
-0.587496 |
| |
-0.587529 |
| |
-0.587570 |
| |
-0.587702 |
| |
-0.587871 |
| |
-0.587872 |
| |
-0.587958 |
| |
-0.587963 |
| |
-0.588056 |
| |
-0.588168 |
| |
-0.588188 |
| |
-0.588353 |
| |
-0.588428 |
| |
-0.588444 |
| |
-0.588503 |
| |
-0.588598 |
| |
-0.588747 |
| |
-0.588832 |
| |
-0.588873 |
| |
-0.588883 |
| |
-0.588998 |
|
|
|
|
|
 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.
|
