|
|
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 |
| |
-0.794595 |
| |
-0.794654 |
| |
-0.794734 |
| |
-0.794734 |
| |
-0.794828 |
| |
-0.794933 |
| |
-0.794969 |
| |
-0.795079 |
| |
-0.795203 |
| |
-0.795265 |
| |
-0.795318 |
| |
-0.795392 |
| |
-0.795392 |
| |
-0.795407 |
| |
-0.795411 |
| |
-0.795414 |
| |
-0.795414 |
| |
-0.795433 |
| |
-0.795511 |
| |
-0.795583 |
| |
-0.795608 |
| |
-0.795617 |
| |
-0.795632 |
| |
-0.795676 |
| |
-0.795705 |
|
|
|
|
|
 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.
|
