|
|
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 |
| |
-0.311207 |
| |
-0.311617 |
| |
-0.311677 |
| |
-0.311709 |
| |
-0.311949 |
| |
-0.312085 |
| |
-0.312231 |
| |
-0.312242 |
| |
-0.312545 |
| |
-0.312758 |
| |
-0.313051 |
| |
-0.313062 |
| |
-0.313077 |
| |
-0.313710 |
| |
-0.313728 |
| |
-0.313728 |
| |
-0.314684 |
| |
-0.315085 |
| |
-0.315369 |
| |
-0.315407 |
| |
-0.315674 |
| |
-0.315709 |
| |
-0.315714 |
| |
-0.315886 |
| |
-0.316016 |
|
|
|
|
|
 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.
|
