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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.
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Symbol | Correlation |
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-0.327622 |
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-0.327880 |
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-0.327880 |
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-0.327887 |
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-0.327923 |
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-0.327987 |
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-0.328109 |
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-0.328263 |
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-0.328331 |
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-0.328566 |
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-0.329254 |
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-0.329281 |
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-0.330006 |
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-0.330255 |
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-0.330255 |
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-0.330322 |
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-0.330652 |
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-0.330989 |
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-0.331139 |
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-0.331684 |
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-0.332161 |
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-0.332254 |
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-0.332773 |
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-0.332778 |
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-0.333280 |
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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.
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