|
|
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 |
| |
-0.279537 |
| |
-0.279839 |
| |
-0.280104 |
| |
-0.280211 |
| |
-0.280286 |
| |
-0.280393 |
| |
-0.281179 |
| |
-0.281527 |
| |
-0.281527 |
| |
-0.281663 |
| |
-0.281808 |
| |
-0.281846 |
| |
-0.281985 |
| |
-0.282055 |
| |
-0.282502 |
| |
-0.283124 |
| |
-0.283193 |
| |
-0.283428 |
| |
-0.283559 |
| |
-0.283597 |
| |
-0.284045 |
| |
-0.284199 |
| |
-0.284534 |
| |
-0.284586 |
| |
-0.285196 |
|
|
|
|
|
 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.
|
