|
|
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 |
| |
-0.765968 |
| |
-0.765977 |
| |
-0.765986 |
| |
-0.766001 |
| |
-0.766019 |
| |
-0.766019 |
| |
-0.766038 |
| |
-0.766082 |
| |
-0.766104 |
| |
-0.766130 |
| |
-0.766279 |
| |
-0.766279 |
| |
-0.766342 |
| |
-0.766350 |
| |
-0.766385 |
| |
-0.766406 |
| |
-0.766597 |
| |
-0.766636 |
| |
-0.766660 |
| |
-0.766703 |
| |
-0.766703 |
| |
-0.766706 |
| |
-0.766708 |
| |
-0.766811 |
| |
-0.766811 |
|
|
|
|
|
 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.
|
