|
|
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 |
| |
-0.387461 |
| |
-0.387687 |
| |
-0.387775 |
| |
-0.387812 |
| |
-0.387823 |
| |
-0.387840 |
| |
-0.387861 |
| |
-0.387862 |
| |
-0.388051 |
| |
-0.388252 |
| |
-0.388507 |
| |
-0.388666 |
| |
-0.388969 |
| |
-0.388987 |
| |
-0.389011 |
| |
-0.389035 |
| |
-0.389235 |
| |
-0.389273 |
| |
-0.389347 |
| |
-0.389483 |
| |
-0.389570 |
| |
-0.389581 |
| |
-0.389625 |
| |
-0.389715 |
| |
-0.389720 |
|
|
|
|
|
 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.
|
