|
|
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 |
| |
-0.827866 |
| |
-0.827870 |
| |
-0.827899 |
| |
-0.828117 |
| |
-0.828202 |
| |
-0.828243 |
| |
-0.828275 |
| |
-0.828356 |
| |
-0.828400 |
| |
-0.828435 |
| |
-0.828449 |
| |
-0.828520 |
| |
-0.828646 |
| |
-0.828697 |
| |
-0.828757 |
| |
-0.828878 |
| |
-0.828891 |
| |
-0.828958 |
| |
-0.829045 |
| |
-0.829058 |
| |
-0.829078 |
| |
-0.829078 |
| |
-0.829092 |
| |
-0.829187 |
| |
-0.829217 |
|
|
|
|
|
 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.
|
