|
|
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 |
| |
-0.173645 |
| |
-0.173679 |
| |
-0.173688 |
| |
-0.173715 |
| |
-0.173766 |
| |
-0.173802 |
| |
-0.173884 |
| |
-0.173963 |
| |
-0.174016 |
| |
-0.174074 |
| |
-0.174126 |
| |
-0.174128 |
| |
-0.174196 |
| |
-0.174253 |
| |
-0.174271 |
| |
-0.174300 |
| |
-0.174380 |
| |
-0.174416 |
| |
-0.174463 |
| |
-0.174465 |
| |
-0.174661 |
| |
-0.174725 |
| |
-0.174760 |
| |
-0.174783 |
| |
-0.174790 |
|
|
|
|
|
 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.
|
