|
|
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 |
| |
-0.384289 |
| |
-0.384341 |
| |
-0.384673 |
| |
-0.384905 |
| |
-0.384950 |
| |
-0.385014 |
| |
-0.385025 |
| |
-0.385031 |
| |
-0.385207 |
| |
-0.385342 |
| |
-0.385367 |
| |
-0.385367 |
| |
-0.385371 |
| |
-0.385483 |
| |
-0.385638 |
| |
-0.385853 |
| |
-0.386073 |
| |
-0.386099 |
| |
-0.386173 |
| |
-0.386173 |
| |
-0.386296 |
| |
-0.386589 |
| |
-0.386850 |
| |
-0.387560 |
| |
-0.387560 |
|
|
|
|
|
 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.
|
