|
|
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 |
| |
-0.714475 |
| |
-0.714631 |
| |
-0.714730 |
| |
-0.714738 |
| |
-0.715003 |
| |
-0.715021 |
| |
-0.715027 |
| |
-0.715049 |
| |
-0.715059 |
| |
-0.715224 |
| |
-0.715368 |
| |
-0.715371 |
| |
-0.715385 |
| |
-0.715574 |
| |
-0.715597 |
| |
-0.715599 |
| |
-0.715661 |
| |
-0.715740 |
| |
-0.715783 |
| |
-0.715790 |
| |
-0.715790 |
| |
-0.715792 |
| |
-0.715859 |
| |
-0.715897 |
| |
-0.715916 |
|
|
|
|
|
 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.
|
