|
|
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 |
| |
-0.241606 |
| |
-0.241630 |
| |
-0.241688 |
| |
-0.241800 |
| |
-0.241832 |
| |
-0.241835 |
| |
-0.241847 |
| |
-0.241891 |
| |
-0.241992 |
| |
-0.242014 |
| |
-0.242026 |
| |
-0.242038 |
| |
-0.242101 |
| |
-0.242147 |
| |
-0.242158 |
| |
-0.242188 |
| |
-0.242205 |
| |
-0.242236 |
| |
-0.242251 |
| |
-0.242271 |
| |
-0.242351 |
| |
-0.242392 |
| |
-0.242432 |
| |
-0.242458 |
| |
-0.242463 |
|
|
|
|
|
 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.
|
