|
|
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 |
| |
-0.199114 |
| |
-0.199130 |
| |
-0.199130 |
| |
-0.199194 |
| |
-0.199222 |
| |
-0.199229 |
| |
-0.199232 |
| |
-0.199233 |
| |
-0.199233 |
| |
-0.199235 |
| |
-0.199264 |
| |
-0.199272 |
| |
-0.199281 |
| |
-0.199283 |
| |
-0.199351 |
| |
-0.199457 |
| |
-0.199509 |
| |
-0.199559 |
| |
-0.199600 |
| |
-0.199628 |
| |
-0.199674 |
| |
-0.199678 |
| |
-0.199686 |
| |
-0.199728 |
| |
-0.199821 |
|
|
|
|
|
 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.
|
