|
|
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 |
| |
-0.281776 |
| |
-0.281866 |
| |
-0.282182 |
| |
-0.282368 |
| |
-0.282382 |
| |
-0.282494 |
| |
-0.282540 |
| |
-0.282661 |
| |
-0.282842 |
| |
-0.283072 |
| |
-0.283315 |
| |
-0.283440 |
| |
-0.283455 |
| |
-0.283633 |
| |
-0.283673 |
| |
-0.284060 |
| |
-0.284178 |
| |
-0.284275 |
| |
-0.284285 |
| |
-0.284314 |
| |
-0.284339 |
| |
-0.284734 |
| |
-0.284863 |
| |
-0.284966 |
| |
-0.285064 |
|
|
|
|
|
 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.
|
