|
|
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 |
| |
-0.622783 |
| |
-0.622826 |
| |
-0.622886 |
| |
-0.622924 |
| |
-0.622957 |
| |
-0.623035 |
| |
-0.623101 |
| |
-0.623128 |
| |
-0.623150 |
| |
-0.623151 |
| |
-0.623223 |
| |
-0.623275 |
| |
-0.623275 |
| |
-0.623284 |
| |
-0.623318 |
| |
-0.623376 |
| |
-0.623444 |
| |
-0.623560 |
| |
-0.623576 |
| |
-0.623676 |
| |
-0.623683 |
| |
-0.623790 |
| |
-0.623822 |
| |
-0.624222 |
| |
-0.624274 |
|
|
|
|
|
 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.
|
