|
|
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 |
| |
-0.416926 |
| |
-0.417000 |
| |
-0.417079 |
| |
-0.417107 |
| |
-0.417142 |
| |
-0.417153 |
| |
-0.417344 |
| |
-0.417382 |
| |
-0.417386 |
| |
-0.417397 |
| |
-0.417482 |
| |
-0.417509 |
| |
-0.417554 |
| |
-0.417592 |
| |
-0.417782 |
| |
-0.417812 |
| |
-0.417929 |
| |
-0.418030 |
| |
-0.418040 |
| |
-0.418094 |
| |
-0.418151 |
| |
-0.418329 |
| |
-0.418470 |
| |
-0.418533 |
| |
-0.418537 |
|
|
|
|
|
 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.
|
