|
|
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 |
| |
-0.032460 |
| |
-0.032487 |
| |
-0.032623 |
| |
-0.032743 |
| |
-0.032835 |
| |
-0.033187 |
| |
-0.033199 |
| |
-0.033263 |
| |
-0.033300 |
| |
-0.033482 |
| |
-0.033599 |
| |
-0.033684 |
| |
-0.033738 |
| |
-0.033747 |
| |
-0.034058 |
| |
-0.034099 |
| |
-0.034137 |
| |
-0.034291 |
| |
-0.034457 |
| |
-0.034525 |
| |
-0.034584 |
| |
-0.034604 |
| |
-0.034604 |
| |
-0.034990 |
| |
-0.034994 |
|
|
|
|
|
 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.
|
