|
|
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 |
| |
-0.752645 |
| |
-0.752662 |
| |
-0.752740 |
| |
-0.752749 |
| |
-0.752751 |
| |
-0.752949 |
| |
-0.752974 |
| |
-0.753030 |
| |
-0.753037 |
| |
-0.753103 |
| |
-0.753147 |
| |
-0.753147 |
| |
-0.753147 |
| |
-0.753147 |
| |
-0.753167 |
| |
-0.753167 |
| |
-0.753183 |
| |
-0.753397 |
| |
-0.753399 |
| |
-0.753419 |
| |
-0.753441 |
| |
-0.753552 |
| |
-0.753567 |
| |
-0.753709 |
| |
-0.753823 |
|
|
|
|
|
 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.
|
