|
|
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 |
| |
-0.240235 |
| |
-0.240249 |
| |
-0.240269 |
| |
-0.240291 |
| |
-0.240356 |
| |
-0.240362 |
| |
-0.240372 |
| |
-0.240384 |
| |
-0.240490 |
| |
-0.240498 |
| |
-0.240532 |
| |
-0.240556 |
| |
-0.240568 |
| |
-0.240571 |
| |
-0.240593 |
| |
-0.240597 |
| |
-0.240620 |
| |
-0.240673 |
| |
-0.240747 |
| |
-0.240756 |
| |
-0.240756 |
| |
-0.240762 |
| |
-0.240857 |
| |
-0.240879 |
| |
-0.240941 |
|
|
|
|
|
 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.
|
