|
|
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 |
| |
-0.346343 |
| |
-0.346618 |
| |
-0.346716 |
| |
-0.346889 |
| |
-0.346939 |
| |
-0.347200 |
| |
-0.347302 |
| |
-0.347302 |
| |
-0.347378 |
| |
-0.347429 |
| |
-0.347430 |
| |
-0.347443 |
| |
-0.347443 |
| |
-0.347665 |
| |
-0.347778 |
| |
-0.348212 |
| |
-0.348212 |
| |
-0.348435 |
| |
-0.348442 |
| |
-0.348470 |
| |
-0.348496 |
| |
-0.348605 |
| |
-0.348605 |
| |
-0.348706 |
| |
-0.348746 |
|
|
|
|
|
 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.
|
