|
|
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 |
| |
-0.010301 |
| |
-0.010358 |
| |
-0.010573 |
| |
-0.010782 |
| |
-0.010985 |
| |
-0.011079 |
| |
-0.011132 |
| |
-0.011163 |
| |
-0.012036 |
| |
-0.012290 |
| |
-0.012383 |
| |
-0.012783 |
| |
-0.012794 |
| |
-0.013642 |
| |
-0.013879 |
| |
-0.013884 |
| |
-0.013887 |
| |
-0.013887 |
| |
-0.013905 |
| |
-0.014365 |
| |
-0.014445 |
| |
-0.014519 |
| |
-0.014603 |
| |
-0.014944 |
| |
-0.015821 |
|
|
|
|
|
 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.
|
