|
|
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 |
| |
-0.091187 |
| |
-0.091187 |
| |
-0.091271 |
| |
-0.091401 |
| |
-0.091401 |
| |
-0.091407 |
| |
-0.091605 |
| |
-0.091635 |
| |
-0.091873 |
| |
-0.091878 |
| |
-0.092046 |
| |
-0.092498 |
| |
-0.092553 |
| |
-0.092642 |
| |
-0.092642 |
| |
-0.092732 |
| |
-0.092802 |
| |
-0.092853 |
| |
-0.092990 |
| |
-0.093080 |
| |
-0.093301 |
| |
-0.093401 |
| |
-0.093452 |
| |
-0.093452 |
| |
-0.093754 |
|
|
|
|
|
 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.
|
