|
|
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 |
| |
-0.454401 |
| |
-0.454420 |
| |
-0.454460 |
| |
-0.454540 |
| |
-0.454544 |
| |
-0.454634 |
| |
-0.454677 |
| |
-0.455406 |
| |
-0.455416 |
| |
-0.455596 |
| |
-0.455637 |
| |
-0.455637 |
| |
-0.455841 |
| |
-0.455873 |
| |
-0.455907 |
| |
-0.455921 |
| |
-0.456235 |
| |
-0.456347 |
| |
-0.456375 |
| |
-0.456907 |
| |
-0.456958 |
| |
-0.457067 |
| |
-0.457198 |
| |
-0.457210 |
| |
-0.457235 |
|
|
|
|
|
 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.
|
