|
|
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 |
| |
-0.696414 |
| |
-0.696419 |
| |
-0.696496 |
| |
-0.696512 |
| |
-0.696629 |
| |
-0.696733 |
| |
-0.696740 |
| |
-0.696787 |
| |
-0.696792 |
| |
-0.696792 |
| |
-0.696793 |
| |
-0.696857 |
| |
-0.696879 |
| |
-0.696972 |
| |
-0.697021 |
| |
-0.697034 |
| |
-0.697079 |
| |
-0.697079 |
| |
-0.697178 |
| |
-0.697263 |
| |
-0.697318 |
| |
-0.697321 |
| |
-0.697373 |
| |
-0.697469 |
| |
-0.697529 |
|
|
|
|
|
 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.
|
