|
|
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 |
| |
-0.344350 |
| |
-0.344889 |
| |
-0.345014 |
| |
-0.345125 |
| |
-0.345364 |
| |
-0.346538 |
| |
-0.346959 |
| |
-0.347000 |
| |
-0.347374 |
| |
-0.347576 |
| |
-0.347655 |
| |
-0.347710 |
| |
-0.348106 |
| |
-0.348122 |
| |
-0.348392 |
| |
-0.348760 |
| |
-0.349130 |
| |
-0.349248 |
| |
-0.349893 |
| |
-0.350057 |
| |
-0.350229 |
| |
-0.350418 |
| |
-0.350639 |
| |
-0.350644 |
| |
-0.350801 |
|
|
|
|
|
 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.
|
