|
|
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 |
| |
-0.218802 |
| |
-0.218987 |
| |
-0.219572 |
| |
-0.219846 |
| |
-0.220083 |
| |
-0.221005 |
| |
-0.221480 |
| |
-0.222852 |
| |
-0.223113 |
| |
-0.223244 |
| |
-0.223745 |
| |
-0.224369 |
| |
-0.224435 |
| |
-0.224658 |
| |
-0.224902 |
| |
-0.224922 |
| |
-0.225048 |
| |
-0.225181 |
| |
-0.225536 |
| |
-0.225766 |
| |
-0.225766 |
| |
-0.226166 |
| |
-0.227056 |
| |
-0.227183 |
| |
-0.227939 |
|
|
|
|
|
 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.
|
