|
|
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 |
| |
-0.815812 |
| |
-0.815854 |
| |
-0.815862 |
| |
-0.815869 |
| |
-0.816044 |
| |
-0.816044 |
| |
-0.816110 |
| |
-0.816147 |
| |
-0.816217 |
| |
-0.816217 |
| |
-0.816218 |
| |
-0.816237 |
| |
-0.816294 |
| |
-0.816298 |
| |
-0.816320 |
| |
-0.816340 |
| |
-0.816370 |
| |
-0.816394 |
| |
-0.816432 |
| |
-0.816444 |
| |
-0.816459 |
| |
-0.816519 |
| |
-0.816549 |
| |
-0.816567 |
| |
-0.816616 |
|
|
|
|
|
 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.
|
