|
|
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 |
| |
-0.704693 |
| |
-0.704847 |
| |
-0.704856 |
| |
-0.704881 |
| |
-0.704890 |
| |
-0.704956 |
| |
-0.705264 |
| |
-0.705497 |
| |
-0.706024 |
| |
-0.706030 |
| |
-0.706518 |
| |
-0.706533 |
| |
-0.706533 |
| |
-0.706554 |
| |
-0.706846 |
| |
-0.706903 |
| |
-0.707212 |
| |
-0.707302 |
| |
-0.707302 |
| |
-0.707397 |
| |
-0.707537 |
| |
-0.707942 |
| |
-0.708073 |
| |
-0.708137 |
| |
-0.708436 |
|
|
|
|
|
 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.
|
