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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.
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| Symbol | Correlation |
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-0.260365 |
| |
-0.260366 |
| |
-0.260382 |
| |
-0.260406 |
| |
-0.260455 |
| |
-0.260518 |
| |
-0.260521 |
| |
-0.260537 |
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-0.260560 |
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-0.260599 |
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-0.260630 |
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-0.260654 |
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-0.260700 |
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-0.260748 |
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-0.260765 |
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-0.260780 |
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-0.260819 |
| |
-0.260844 |
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-0.260850 |
| |
-0.260867 |
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-0.260893 |
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-0.260931 |
| |
-0.260935 |
| |
-0.260944 |
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-0.260945 |
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 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.
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