|
|
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 |
| |
-0.145205 |
| |
-0.145227 |
| |
-0.145234 |
| |
-0.145309 |
| |
-0.145328 |
| |
-0.145369 |
| |
-0.145410 |
| |
-0.145447 |
| |
-0.145477 |
| |
-0.145489 |
| |
-0.145495 |
| |
-0.145519 |
| |
-0.145526 |
| |
-0.145589 |
| |
-0.145668 |
| |
-0.145707 |
| |
-0.145747 |
| |
-0.145754 |
| |
-0.145800 |
| |
-0.145821 |
| |
-0.145831 |
| |
-0.145864 |
| |
-0.145912 |
| |
-0.146000 |
| |
-0.146025 |
|
|
|
|
|
 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.
|
