|
|
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 |
| |
-0.484797 |
| |
-0.484829 |
| |
-0.484931 |
| |
-0.485014 |
| |
-0.485085 |
| |
-0.485171 |
| |
-0.485225 |
| |
-0.485237 |
| |
-0.485242 |
| |
-0.485267 |
| |
-0.485349 |
| |
-0.485349 |
| |
-0.485404 |
| |
-0.485435 |
| |
-0.485492 |
| |
-0.485608 |
| |
-0.485625 |
| |
-0.485649 |
| |
-0.485700 |
| |
-0.485825 |
| |
-0.486008 |
| |
-0.486014 |
| |
-0.486061 |
| |
-0.486067 |
| |
-0.486074 |
|
|
|
|
|
 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.
|
