|
|
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 |
| |
-0.702109 |
| |
-0.702210 |
| |
-0.702217 |
| |
-0.702465 |
| |
-0.702484 |
| |
-0.702543 |
| |
-0.702620 |
| |
-0.702627 |
| |
-0.702658 |
| |
-0.702702 |
| |
-0.702760 |
| |
-0.702824 |
| |
-0.702874 |
| |
-0.702884 |
| |
-0.702899 |
| |
-0.703091 |
| |
-0.703439 |
| |
-0.703484 |
| |
-0.703486 |
| |
-0.703530 |
| |
-0.703533 |
| |
-0.703572 |
| |
-0.703612 |
| |
-0.703663 |
| |
-0.703785 |
|
|
|
|
|
 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.
|
