|
|
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 |
| |
-0.087168 |
| |
-0.087224 |
| |
-0.087275 |
| |
-0.087343 |
| |
-0.087503 |
| |
-0.087521 |
| |
-0.087760 |
| |
-0.087760 |
| |
-0.087831 |
| |
-0.087855 |
| |
-0.087855 |
| |
-0.087908 |
| |
-0.087985 |
| |
-0.088002 |
| |
-0.088002 |
| |
-0.088151 |
| |
-0.088640 |
| |
-0.088778 |
| |
-0.088843 |
| |
-0.088843 |
| |
-0.088874 |
| |
-0.088882 |
| |
-0.089202 |
| |
-0.089206 |
| |
-0.089405 |
|
|
|
|
|
 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.
|
