|
|
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 |
| |
-0.340146 |
| |
-0.340281 |
| |
-0.340793 |
| |
-0.341328 |
| |
-0.341822 |
| |
-0.342069 |
| |
-0.342318 |
| |
-0.342410 |
| |
-0.342545 |
| |
-0.342763 |
| |
-0.342802 |
| |
-0.343950 |
| |
-0.344030 |
| |
-0.344375 |
| |
-0.344914 |
| |
-0.345120 |
| |
-0.345169 |
| |
-0.345543 |
| |
-0.345552 |
| |
-0.346151 |
| |
-0.346671 |
| |
-0.347033 |
| |
-0.347061 |
| |
-0.347137 |
| |
-0.347463 |
|
|
|
|
|
 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.
|
