|
|
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 |
| |
-0.215731 |
| |
-0.215893 |
| |
-0.215893 |
| |
-0.215932 |
| |
-0.215971 |
| |
-0.216070 |
| |
-0.216083 |
| |
-0.216089 |
| |
-0.216417 |
| |
-0.216597 |
| |
-0.216684 |
| |
-0.217045 |
| |
-0.217319 |
| |
-0.217449 |
| |
-0.217449 |
| |
-0.217530 |
| |
-0.217530 |
| |
-0.217627 |
| |
-0.217688 |
| |
-0.217883 |
| |
-0.217903 |
| |
-0.218143 |
| |
-0.218218 |
| |
-0.218448 |
| |
-0.218490 |
|
|
|
|
|
 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.
|
