|
|
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 |
| |
-0.263785 |
| |
-0.263803 |
| |
-0.263862 |
| |
-0.263948 |
| |
-0.263998 |
| |
-0.264005 |
| |
-0.264014 |
| |
-0.264043 |
| |
-0.264155 |
| |
-0.264158 |
| |
-0.264159 |
| |
-0.264301 |
| |
-0.264374 |
| |
-0.264415 |
| |
-0.264438 |
| |
-0.264504 |
| |
-0.264523 |
| |
-0.264543 |
| |
-0.264581 |
| |
-0.264588 |
| |
-0.264652 |
| |
-0.264656 |
| |
-0.264703 |
| |
-0.264792 |
| |
-0.264841 |
|
|
|
|
|
 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.
|
