|
|
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 |
| |
-0.163822 |
| |
-0.163836 |
| |
-0.163838 |
| |
-0.163907 |
| |
-0.163932 |
| |
-0.163936 |
| |
-0.164005 |
| |
-0.164012 |
| |
-0.164036 |
| |
-0.164043 |
| |
-0.164045 |
| |
-0.164134 |
| |
-0.164189 |
| |
-0.164198 |
| |
-0.164245 |
| |
-0.164246 |
| |
-0.164276 |
| |
-0.164284 |
| |
-0.164296 |
| |
-0.164451 |
| |
-0.164461 |
| |
-0.164468 |
| |
-0.164470 |
| |
-0.164492 |
| |
-0.164518 |
|
|
|
|
|
 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.
|
