|
|
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 |
| |
-0.483439 |
| |
-0.483499 |
| |
-0.483589 |
| |
-0.483661 |
| |
-0.483678 |
| |
-0.483692 |
| |
-0.483800 |
| |
-0.483831 |
| |
-0.484084 |
| |
-0.484086 |
| |
-0.484187 |
| |
-0.484212 |
| |
-0.484212 |
| |
-0.484218 |
| |
-0.484246 |
| |
-0.484265 |
| |
-0.484266 |
| |
-0.484365 |
| |
-0.484422 |
| |
-0.484496 |
| |
-0.484569 |
| |
-0.484585 |
| |
-0.484667 |
| |
-0.484734 |
| |
-0.484769 |
|
|
|
|
|
 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.
|
