|
|
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 |
| |
-0.752401 |
| |
-0.752541 |
| |
-0.752563 |
| |
-0.752593 |
| |
-0.752603 |
| |
-0.752604 |
| |
-0.752611 |
| |
-0.752695 |
| |
-0.752710 |
| |
-0.752710 |
| |
-0.752898 |
| |
-0.752914 |
| |
-0.753008 |
| |
-0.753087 |
| |
-0.753087 |
| |
-0.753110 |
| |
-0.753150 |
| |
-0.753253 |
| |
-0.753278 |
| |
-0.753306 |
| |
-0.753351 |
| |
-0.753367 |
| |
-0.753374 |
| |
-0.753390 |
| |
-0.753413 |
|
|
|
|
|
 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.
|
