|
|
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 |
| |
-0.268687 |
| |
-0.268698 |
| |
-0.268702 |
| |
-0.268783 |
| |
-0.268786 |
| |
-0.268816 |
| |
-0.268841 |
| |
-0.268920 |
| |
-0.268943 |
| |
-0.268949 |
| |
-0.269006 |
| |
-0.269033 |
| |
-0.269034 |
| |
-0.269044 |
| |
-0.269089 |
| |
-0.269099 |
| |
-0.269100 |
| |
-0.269163 |
| |
-0.269247 |
| |
-0.269281 |
| |
-0.269292 |
| |
-0.269298 |
| |
-0.269320 |
| |
-0.269364 |
| |
-0.269391 |
|
|
|
|
|
 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.
|
