|
|
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 |
| |
-0.214996 |
| |
-0.215028 |
| |
-0.215030 |
| |
-0.215047 |
| |
-0.215130 |
| |
-0.215210 |
| |
-0.215224 |
| |
-0.215242 |
| |
-0.215269 |
| |
-0.215271 |
| |
-0.215292 |
| |
-0.215319 |
| |
-0.215372 |
| |
-0.215481 |
| |
-0.215494 |
| |
-0.215517 |
| |
-0.215538 |
| |
-0.215588 |
| |
-0.215615 |
| |
-0.215625 |
| |
-0.215645 |
| |
-0.215705 |
| |
-0.215721 |
| |
-0.215744 |
| |
-0.215828 |
|
|
|
|
|
 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.
|
