|
|
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 |
| |
-0.476235 |
| |
-0.476286 |
| |
-0.476483 |
| |
-0.476522 |
| |
-0.476599 |
| |
-0.476617 |
| |
-0.476691 |
| |
-0.476792 |
| |
-0.476846 |
| |
-0.476883 |
| |
-0.476973 |
| |
-0.477056 |
| |
-0.477086 |
| |
-0.477090 |
| |
-0.477281 |
| |
-0.477421 |
| |
-0.477470 |
| |
-0.477546 |
| |
-0.477633 |
| |
-0.477636 |
| |
-0.477672 |
| |
-0.477718 |
| |
-0.477786 |
| |
-0.477802 |
| |
-0.477856 |
|
|
|
|
|
 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.
|
