|
|
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 |
| |
-0.458796 |
| |
-0.458839 |
| |
-0.458898 |
| |
-0.458921 |
| |
-0.458956 |
| |
-0.458978 |
| |
-0.459043 |
| |
-0.459226 |
| |
-0.459246 |
| |
-0.459313 |
| |
-0.459326 |
| |
-0.459408 |
| |
-0.459478 |
| |
-0.459507 |
| |
-0.459553 |
| |
-0.459584 |
| |
-0.459704 |
| |
-0.459849 |
| |
-0.459872 |
| |
-0.459898 |
| |
-0.459969 |
| |
-0.460046 |
| |
-0.460047 |
| |
-0.460145 |
| |
-0.460203 |
|
|
|
|
|
 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.
|
