|
|
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 |
| |
-0.274943 |
| |
-0.275027 |
| |
-0.275090 |
| |
-0.275107 |
| |
-0.275132 |
| |
-0.275183 |
| |
-0.275195 |
| |
-0.275232 |
| |
-0.275313 |
| |
-0.275322 |
| |
-0.275336 |
| |
-0.275337 |
| |
-0.275354 |
| |
-0.275405 |
| |
-0.275424 |
| |
-0.275482 |
| |
-0.275511 |
| |
-0.275555 |
| |
-0.275575 |
| |
-0.275596 |
| |
-0.275664 |
| |
-0.275680 |
| |
-0.275682 |
| |
-0.275715 |
| |
-0.275761 |
|
|
|
|
|
 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.
|
