|
|
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 |
| |
-0.032982 |
| |
-0.033006 |
| |
-0.033012 |
| |
-0.033132 |
| |
-0.033189 |
| |
-0.033198 |
| |
-0.033219 |
| |
-0.033293 |
| |
-0.033309 |
| |
-0.033340 |
| |
-0.033658 |
| |
-0.033662 |
| |
-0.033712 |
| |
-0.033712 |
| |
-0.033793 |
| |
-0.033854 |
| |
-0.033869 |
| |
-0.033882 |
| |
-0.033884 |
| |
-0.033948 |
| |
-0.034071 |
| |
-0.034086 |
| |
-0.034148 |
| |
-0.034175 |
| |
-0.034178 |
|
|
|
|
|
 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.
|
