|
|
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 |
| |
-0.650099 |
| |
-0.650116 |
| |
-0.650289 |
| |
-0.650314 |
| |
-0.650333 |
| |
-0.650356 |
| |
-0.650558 |
| |
-0.650630 |
| |
-0.650632 |
| |
-0.650795 |
| |
-0.650843 |
| |
-0.650868 |
| |
-0.650965 |
| |
-0.651006 |
| |
-0.651010 |
| |
-0.651068 |
| |
-0.651078 |
| |
-0.651142 |
| |
-0.651162 |
| |
-0.651373 |
| |
-0.651404 |
| |
-0.651524 |
| |
-0.651555 |
| |
-0.651560 |
| |
-0.651648 |
|
|
|
|
|
 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.
|
