|
|
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 |
| |
-0.540349 |
| |
-0.540424 |
| |
-0.540430 |
| |
-0.540514 |
| |
-0.540531 |
| |
-0.540747 |
| |
-0.540841 |
| |
-0.540844 |
| |
-0.540928 |
| |
-0.540983 |
| |
-0.541039 |
| |
-0.541188 |
| |
-0.541611 |
| |
-0.541619 |
| |
-0.541663 |
| |
-0.541683 |
| |
-0.541792 |
| |
-0.541796 |
| |
-0.541911 |
| |
-0.541946 |
| |
-0.541999 |
| |
-0.541999 |
| |
-0.542030 |
| |
-0.542107 |
| |
-0.542191 |
|
|
|
|
|
 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.
|
