|
|
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 |
| |
0.001675 |
| |
0.001397 |
| |
0.000647 |
| |
0.000642 |
| |
0.000327 |
| |
0.000152 |
| |
-0.000595 |
| |
-0.000956 |
| |
-0.001358 |
| |
-0.001446 |
| |
-0.001610 |
| |
-0.001889 |
| |
-0.002391 |
| |
-0.002586 |
| |
-0.002845 |
| |
-0.003636 |
| |
-0.003689 |
| |
-0.003697 |
| |
-0.003977 |
| |
-0.004004 |
| |
-0.004004 |
| |
-0.004270 |
| |
-0.004782 |
| |
-0.004806 |
| |
-0.004831 |
|
|
|
|
|
 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.
|
