|
|
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 |
| |
-0.804699 |
| |
-0.804708 |
| |
-0.804718 |
| |
-0.804757 |
| |
-0.804769 |
| |
-0.804788 |
| |
-0.804813 |
| |
-0.804930 |
| |
-0.804933 |
| |
-0.805037 |
| |
-0.805069 |
| |
-0.805069 |
| |
-0.805198 |
| |
-0.805214 |
| |
-0.805216 |
| |
-0.805229 |
| |
-0.805327 |
| |
-0.805347 |
| |
-0.805354 |
| |
-0.805408 |
| |
-0.805417 |
| |
-0.805492 |
| |
-0.805516 |
| |
-0.805570 |
| |
-0.805622 |
|
|
|
|
|
 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.
|
