|
|
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 |
| |
-0.835646 |
| |
-0.835658 |
| |
-0.835662 |
| |
-0.835717 |
| |
-0.835729 |
| |
-0.835732 |
| |
-0.835831 |
| |
-0.835832 |
| |
-0.835880 |
| |
-0.835912 |
| |
-0.835954 |
| |
-0.835956 |
| |
-0.835963 |
| |
-0.835988 |
| |
-0.836000 |
| |
-0.836063 |
| |
-0.836147 |
| |
-0.836308 |
| |
-0.836376 |
| |
-0.836513 |
| |
-0.836634 |
| |
-0.836757 |
| |
-0.836840 |
| |
-0.836867 |
| |
-0.836873 |
|
|
|
|
|
 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.
|
