|
|
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 |
| |
-0.786294 |
| |
-0.786332 |
| |
-0.786332 |
| |
-0.786347 |
| |
-0.786352 |
| |
-0.786380 |
| |
-0.786387 |
| |
-0.786387 |
| |
-0.786493 |
| |
-0.786495 |
| |
-0.786512 |
| |
-0.786635 |
| |
-0.786676 |
| |
-0.786721 |
| |
-0.786723 |
| |
-0.786761 |
| |
-0.786839 |
| |
-0.786841 |
| |
-0.786973 |
| |
-0.786991 |
| |
-0.787012 |
| |
-0.787031 |
| |
-0.787031 |
| |
-0.787109 |
| |
-0.787150 |
|
|
|
|
|
 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.
|
