|
|
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 |
| |
-0.628099 |
| |
-0.628110 |
| |
-0.628194 |
| |
-0.628361 |
| |
-0.628413 |
| |
-0.628535 |
| |
-0.628565 |
| |
-0.628570 |
| |
-0.628575 |
| |
-0.628585 |
| |
-0.628664 |
| |
-0.628764 |
| |
-0.629007 |
| |
-0.629054 |
| |
-0.629079 |
| |
-0.629264 |
| |
-0.629319 |
| |
-0.629439 |
| |
-0.629629 |
| |
-0.629959 |
| |
-0.629967 |
| |
-0.629984 |
| |
-0.630059 |
| |
-0.630148 |
| |
-0.630207 |
|
|
|
|
|
 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.
|
