|
|
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 |
| |
-0.434829 |
| |
-0.434931 |
| |
-0.434932 |
| |
-0.434973 |
| |
-0.435037 |
| |
-0.435115 |
| |
-0.435115 |
| |
-0.435519 |
| |
-0.435685 |
| |
-0.435705 |
| |
-0.435711 |
| |
-0.435844 |
| |
-0.435919 |
| |
-0.435953 |
| |
-0.435968 |
| |
-0.436054 |
| |
-0.436258 |
| |
-0.436376 |
| |
-0.436397 |
| |
-0.436456 |
| |
-0.436508 |
| |
-0.436602 |
| |
-0.436785 |
| |
-0.436828 |
| |
-0.436829 |
|
|
|
|
|
 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.
|
