|
|
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 |
| |
-0.034357 |
| |
-0.034390 |
| |
-0.034437 |
| |
-0.034443 |
| |
-0.034482 |
| |
-0.034528 |
| |
-0.034544 |
| |
-0.034544 |
| |
-0.034572 |
| |
-0.034709 |
| |
-0.034713 |
| |
-0.034804 |
| |
-0.034900 |
| |
-0.034940 |
| |
-0.034981 |
| |
-0.034981 |
| |
-0.035013 |
| |
-0.035065 |
| |
-0.035072 |
| |
-0.035110 |
| |
-0.035201 |
| |
-0.035370 |
| |
-0.035422 |
| |
-0.035531 |
| |
-0.035669 |
|
|
|
|
|
 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.
|
