|
|
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 |
| |
-0.476280 |
| |
-0.476713 |
| |
-0.476884 |
| |
-0.476974 |
| |
-0.477061 |
| |
-0.477062 |
| |
-0.477228 |
| |
-0.477672 |
| |
-0.477967 |
| |
-0.478002 |
| |
-0.478002 |
| |
-0.478514 |
| |
-0.479400 |
| |
-0.479621 |
| |
-0.480029 |
| |
-0.480062 |
| |
-0.480301 |
| |
-0.480484 |
| |
-0.480484 |
| |
-0.480617 |
| |
-0.480794 |
| |
-0.481541 |
| |
-0.481568 |
| |
-0.481953 |
| |
-0.482975 |
|
|
|
|
|
 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.
|
