|
|
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 |
| |
-0.654350 |
| |
-0.654387 |
| |
-0.654442 |
| |
-0.654448 |
| |
-0.654515 |
| |
-0.654524 |
| |
-0.654524 |
| |
-0.654712 |
| |
-0.654712 |
| |
-0.654752 |
| |
-0.654839 |
| |
-0.654841 |
| |
-0.654844 |
| |
-0.654981 |
| |
-0.655068 |
| |
-0.655162 |
| |
-0.655246 |
| |
-0.655293 |
| |
-0.655302 |
| |
-0.655450 |
| |
-0.655464 |
| |
-0.655496 |
| |
-0.655622 |
| |
-0.655694 |
| |
-0.655792 |
|
|
|
|
|
 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.
|
