|
|
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 |
| |
-0.763193 |
| |
-0.763193 |
| |
-0.763209 |
| |
-0.763245 |
| |
-0.763264 |
| |
-0.763342 |
| |
-0.763405 |
| |
-0.763405 |
| |
-0.763554 |
| |
-0.763629 |
| |
-0.763646 |
| |
-0.763675 |
| |
-0.763688 |
| |
-0.763701 |
| |
-0.763765 |
| |
-0.763783 |
| |
-0.763938 |
| |
-0.763944 |
| |
-0.763960 |
| |
-0.763990 |
| |
-0.763994 |
| |
-0.764118 |
| |
-0.764129 |
| |
-0.764156 |
| |
-0.764164 |
|
|
|
|
|
 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.
|
