|
|
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 |
| |
-0.755629 |
| |
-0.755634 |
| |
-0.755641 |
| |
-0.755735 |
| |
-0.755809 |
| |
-0.755816 |
| |
-0.755818 |
| |
-0.755887 |
| |
-0.755901 |
| |
-0.756020 |
| |
-0.756041 |
| |
-0.756149 |
| |
-0.756230 |
| |
-0.756250 |
| |
-0.756279 |
| |
-0.756287 |
| |
-0.756332 |
| |
-0.756344 |
| |
-0.756344 |
| |
-0.756421 |
| |
-0.756447 |
| |
-0.756559 |
| |
-0.756684 |
| |
-0.756731 |
| |
-0.756757 |
|
|
|
|
|
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.
|