|
|
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 |
| |
-0.452697 |
| |
-0.452798 |
| |
-0.453235 |
| |
-0.453333 |
| |
-0.453368 |
| |
-0.453478 |
| |
-0.453523 |
| |
-0.453563 |
| |
-0.453593 |
| |
-0.453729 |
| |
-0.453789 |
| |
-0.453874 |
| |
-0.454050 |
| |
-0.454224 |
| |
-0.454428 |
| |
-0.454559 |
| |
-0.454790 |
| |
-0.455122 |
| |
-0.455755 |
| |
-0.455835 |
| |
-0.455869 |
| |
-0.455869 |
| |
-0.455909 |
| |
-0.455931 |
| |
-0.455931 |
|
|
|
|
|
 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.
|
