|
|
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 |
| |
-0.527176 |
| |
-0.527180 |
| |
-0.527197 |
| |
-0.527339 |
| |
-0.527431 |
| |
-0.527856 |
| |
-0.527901 |
| |
-0.528100 |
| |
-0.528357 |
| |
-0.528361 |
| |
-0.528382 |
| |
-0.528383 |
| |
-0.528558 |
| |
-0.528626 |
| |
-0.528784 |
| |
-0.528846 |
| |
-0.528908 |
| |
-0.528931 |
| |
-0.528982 |
| |
-0.529152 |
| |
-0.529627 |
| |
-0.529685 |
| |
-0.529692 |
| |
-0.529730 |
| |
-0.529751 |
|
|
|
|
|
 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.
|
