|
|
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 |
| |
-0.737500 |
| |
-0.737518 |
| |
-0.737593 |
| |
-0.737624 |
| |
-0.737670 |
| |
-0.737802 |
| |
-0.737819 |
| |
-0.737842 |
| |
-0.737842 |
| |
-0.737941 |
| |
-0.737952 |
| |
-0.737965 |
| |
-0.737973 |
| |
-0.738059 |
| |
-0.738063 |
| |
-0.738100 |
| |
-0.738100 |
| |
-0.738131 |
| |
-0.738146 |
| |
-0.738153 |
| |
-0.738181 |
| |
-0.738192 |
| |
-0.738326 |
| |
-0.738507 |
| |
-0.738528 |
|
|
|
|
|
 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.
|
