|
|
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 |
| |
-0.038462 |
| |
-0.038607 |
| |
-0.038646 |
| |
-0.038667 |
| |
-0.038667 |
| |
-0.038668 |
| |
-0.038759 |
| |
-0.038759 |
| |
-0.038803 |
| |
-0.038810 |
| |
-0.038889 |
| |
-0.038900 |
| |
-0.038906 |
| |
-0.038932 |
| |
-0.038935 |
| |
-0.039072 |
| |
-0.039088 |
| |
-0.039182 |
| |
-0.039274 |
| |
-0.039433 |
| |
-0.039466 |
| |
-0.039558 |
| |
-0.039644 |
| |
-0.039644 |
| |
-0.039655 |
|
|
|
|
|
 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.
|
