|
|
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 |
| |
-0.359076 |
| |
-0.359442 |
| |
-0.359902 |
| |
-0.360131 |
| |
-0.360522 |
| |
-0.360551 |
| |
-0.360788 |
| |
-0.361214 |
| |
-0.361266 |
| |
-0.361295 |
| |
-0.361364 |
| |
-0.361368 |
| |
-0.361677 |
| |
-0.361976 |
| |
-0.361976 |
| |
-0.362097 |
| |
-0.362205 |
| |
-0.362537 |
| |
-0.362737 |
| |
-0.362757 |
| |
-0.362948 |
| |
-0.363620 |
| |
-0.363785 |
| |
-0.364118 |
| |
-0.364387 |
|
|
|
|
|
 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.
|
