|
|
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 |
| |
-0.425615 |
| |
-0.426157 |
| |
-0.426825 |
| |
-0.426848 |
| |
-0.427051 |
| |
-0.427101 |
| |
-0.427453 |
| |
-0.427739 |
| |
-0.428722 |
| |
-0.428941 |
| |
-0.428978 |
| |
-0.429148 |
| |
-0.429627 |
| |
-0.429742 |
| |
-0.430650 |
| |
-0.431245 |
| |
-0.431291 |
| |
-0.431291 |
| |
-0.431867 |
| |
-0.431931 |
| |
-0.432048 |
| |
-0.432592 |
| |
-0.433451 |
| |
-0.433451 |
| |
-0.434312 |
|
|
|
|
|
 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.
|
