|
|
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 |
| |
-0.737401 |
| |
-0.737567 |
| |
-0.737600 |
| |
-0.737600 |
| |
-0.737636 |
| |
-0.737638 |
| |
-0.737639 |
| |
-0.737691 |
| |
-0.737714 |
| |
-0.737806 |
| |
-0.737831 |
| |
-0.737932 |
| |
-0.738008 |
| |
-0.738008 |
| |
-0.738012 |
| |
-0.738058 |
| |
-0.738063 |
| |
-0.738116 |
| |
-0.738116 |
| |
-0.738151 |
| |
-0.738154 |
| |
-0.738157 |
| |
-0.738173 |
| |
-0.738207 |
| |
-0.738207 |
|
|
|
|
|
 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.
|
