|
|
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 |
| |
-0.568680 |
| |
-0.568709 |
| |
-0.568736 |
| |
-0.568736 |
| |
-0.568887 |
| |
-0.568907 |
| |
-0.569086 |
| |
-0.569148 |
| |
-0.569332 |
| |
-0.569372 |
| |
-0.569426 |
| |
-0.569482 |
| |
-0.569507 |
| |
-0.569552 |
| |
-0.569597 |
| |
-0.569687 |
| |
-0.569815 |
| |
-0.569868 |
| |
-0.569912 |
| |
-0.569912 |
| |
-0.569967 |
| |
-0.569972 |
| |
-0.570204 |
| |
-0.570241 |
| |
-0.570282 |
|
|
|
|
|
 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.
|
