|
|
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 |
| |
-0.726263 |
| |
-0.726263 |
| |
-0.726450 |
| |
-0.726477 |
| |
-0.726481 |
| |
-0.726527 |
| |
-0.726551 |
| |
-0.726608 |
| |
-0.726619 |
| |
-0.726619 |
| |
-0.726655 |
| |
-0.726676 |
| |
-0.726705 |
| |
-0.726858 |
| |
-0.726931 |
| |
-0.726942 |
| |
-0.727012 |
| |
-0.727072 |
| |
-0.727103 |
| |
-0.727149 |
| |
-0.727231 |
| |
-0.727253 |
| |
-0.727279 |
| |
-0.727279 |
| |
-0.727352 |
|
|
|
|
|
 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.
|
