|
|
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 |
| |
-0.657262 |
| |
-0.657400 |
| |
-0.657410 |
| |
-0.657566 |
| |
-0.657702 |
| |
-0.657768 |
| |
-0.657959 |
| |
-0.658062 |
| |
-0.658156 |
| |
-0.658176 |
| |
-0.658241 |
| |
-0.658388 |
| |
-0.658415 |
| |
-0.658444 |
| |
-0.658501 |
| |
-0.658657 |
| |
-0.658755 |
| |
-0.658755 |
| |
-0.659397 |
| |
-0.659416 |
| |
-0.659563 |
| |
-0.659602 |
| |
-0.659680 |
| |
-0.659886 |
| |
-0.659903 |
|
|
|
|
|
 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.
|
