|
|
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 |
| |
-0.839511 |
| |
-0.839555 |
| |
-0.839555 |
| |
-0.839556 |
| |
-0.839556 |
| |
-0.839655 |
| |
-0.839655 |
| |
-0.839670 |
| |
-0.839718 |
| |
-0.839720 |
| |
-0.839739 |
| |
-0.839739 |
| |
-0.839777 |
| |
-0.839849 |
| |
-0.839852 |
| |
-0.839889 |
| |
-0.839962 |
| |
-0.839962 |
| |
-0.839975 |
| |
-0.839999 |
| |
-0.840006 |
| |
-0.840013 |
| |
-0.840025 |
| |
-0.840169 |
| |
-0.840243 |
|
|
|
|
|
 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.
|
