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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.
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| Symbol | Correlation |
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-0.739468 |
| |
-0.739470 |
| |
-0.739477 |
| |
-0.739562 |
| |
-0.739632 |
| |
-0.739639 |
| |
-0.739653 |
| |
-0.739659 |
| |
-0.739661 |
| |
-0.739676 |
| |
-0.739676 |
| |
-0.739711 |
| |
-0.739802 |
| |
-0.739843 |
| |
-0.739875 |
| |
-0.739941 |
| |
-0.739941 |
| |
-0.740068 |
| |
-0.740192 |
| |
-0.740219 |
| |
-0.740295 |
| |
-0.740316 |
| |
-0.740316 |
| |
-0.740408 |
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-0.740428 |
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 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.
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