|
|
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 |
| |
-0.395992 |
| |
-0.396070 |
| |
-0.396170 |
| |
-0.396239 |
| |
-0.396250 |
| |
-0.396320 |
| |
-0.396372 |
| |
-0.396437 |
| |
-0.396705 |
| |
-0.396734 |
| |
-0.396771 |
| |
-0.396950 |
| |
-0.397021 |
| |
-0.397106 |
| |
-0.397145 |
| |
-0.397148 |
| |
-0.397153 |
| |
-0.397259 |
| |
-0.397287 |
| |
-0.397318 |
| |
-0.397353 |
| |
-0.397386 |
| |
-0.397400 |
| |
-0.397493 |
| |
-0.397518 |
|
|
|
|
|
 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.
|
