|
|
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 |
| |
-0.196353 |
| |
-0.196387 |
| |
-0.196407 |
| |
-0.196448 |
| |
-0.196450 |
| |
-0.196454 |
| |
-0.196471 |
| |
-0.196481 |
| |
-0.196484 |
| |
-0.196499 |
| |
-0.196520 |
| |
-0.196520 |
| |
-0.196598 |
| |
-0.196628 |
| |
-0.196707 |
| |
-0.196873 |
| |
-0.196885 |
| |
-0.196931 |
| |
-0.196974 |
| |
-0.196990 |
| |
-0.197036 |
| |
-0.197043 |
| |
-0.197046 |
| |
-0.197099 |
| |
-0.197121 |
|
|
|
|
|
 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.
|
