|
|
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 |
| |
-0.186088 |
| |
-0.186106 |
| |
-0.186136 |
| |
-0.186144 |
| |
-0.186158 |
| |
-0.186160 |
| |
-0.186163 |
| |
-0.186205 |
| |
-0.186309 |
| |
-0.186320 |
| |
-0.186400 |
| |
-0.186407 |
| |
-0.186410 |
| |
-0.186441 |
| |
-0.186459 |
| |
-0.186500 |
| |
-0.186535 |
| |
-0.186540 |
| |
-0.186541 |
| |
-0.186576 |
| |
-0.186580 |
| |
-0.186624 |
| |
-0.186626 |
| |
-0.186654 |
| |
-0.186743 |
|
|
|
|
|
 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.
|
