|
|
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 |
| |
-0.128460 |
| |
-0.128580 |
| |
-0.128984 |
| |
-0.129042 |
| |
-0.129179 |
| |
-0.129285 |
| |
-0.129717 |
| |
-0.129762 |
| |
-0.129841 |
| |
-0.129846 |
| |
-0.130076 |
| |
-0.130234 |
| |
-0.130284 |
| |
-0.130444 |
| |
-0.130532 |
| |
-0.130559 |
| |
-0.130659 |
| |
-0.130682 |
| |
-0.130719 |
| |
-0.130840 |
| |
-0.130935 |
| |
-0.130954 |
| |
-0.130983 |
| |
-0.131137 |
| |
-0.131653 |
|
|
|
|
|
 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.
|
