|
|
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 |
| |
-0.520079 |
| |
-0.520085 |
| |
-0.520133 |
| |
-0.520198 |
| |
-0.520300 |
| |
-0.520327 |
| |
-0.520435 |
| |
-0.520443 |
| |
-0.520443 |
| |
-0.520543 |
| |
-0.520606 |
| |
-0.520669 |
| |
-0.520738 |
| |
-0.520843 |
| |
-0.520859 |
| |
-0.520901 |
| |
-0.520928 |
| |
-0.520952 |
| |
-0.521086 |
| |
-0.521150 |
| |
-0.521292 |
| |
-0.521313 |
| |
-0.521313 |
| |
-0.521336 |
| |
-0.521421 |
|
|
|
|
|
 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.
|
