|
|
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 |
| |
-0.296297 |
| |
-0.296492 |
| |
-0.296510 |
| |
-0.296763 |
| |
-0.297119 |
| |
-0.297260 |
| |
-0.297310 |
| |
-0.297408 |
| |
-0.297468 |
| |
-0.297593 |
| |
-0.297640 |
| |
-0.297849 |
| |
-0.297973 |
| |
-0.298023 |
| |
-0.298061 |
| |
-0.298096 |
| |
-0.298102 |
| |
-0.298179 |
| |
-0.298280 |
| |
-0.298294 |
| |
-0.298300 |
| |
-0.298359 |
| |
-0.298396 |
| |
-0.298405 |
| |
-0.298435 |
|
|
|
|
|
 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.
|
