|
|
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 |
| |
-0.586499 |
| |
-0.586612 |
| |
-0.586617 |
| |
-0.586660 |
| |
-0.586687 |
| |
-0.586692 |
| |
-0.586713 |
| |
-0.586795 |
| |
-0.586915 |
| |
-0.586935 |
| |
-0.586954 |
| |
-0.586990 |
| |
-0.587024 |
| |
-0.587084 |
| |
-0.587088 |
| |
-0.587150 |
| |
-0.587169 |
| |
-0.587235 |
| |
-0.587365 |
| |
-0.587369 |
| |
-0.587403 |
| |
-0.587551 |
| |
-0.587594 |
| |
-0.587650 |
| |
-0.587676 |
|
|
|
|
|
 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.
|
