|
|
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 |
| |
-0.297980 |
| |
-0.297980 |
| |
-0.298114 |
| |
-0.298114 |
| |
-0.298191 |
| |
-0.298267 |
| |
-0.298373 |
| |
-0.298426 |
| |
-0.298533 |
| |
-0.298554 |
| |
-0.298797 |
| |
-0.298921 |
| |
-0.298922 |
| |
-0.299052 |
| |
-0.299064 |
| |
-0.299163 |
| |
-0.299203 |
| |
-0.299246 |
| |
-0.299246 |
| |
-0.299707 |
| |
-0.299707 |
| |
-0.299959 |
| |
-0.299963 |
| |
-0.299985 |
| |
-0.300221 |
|
|
|
|
|
 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.
|
