|
|
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 |
| |
-0.478132 |
| |
-0.478698 |
| |
-0.479034 |
| |
-0.479079 |
| |
-0.479247 |
| |
-0.479265 |
| |
-0.479436 |
| |
-0.479708 |
| |
-0.479814 |
| |
-0.480062 |
| |
-0.480062 |
| |
-0.480094 |
| |
-0.480743 |
| |
-0.480820 |
| |
-0.481211 |
| |
-0.481409 |
| |
-0.481410 |
| |
-0.481458 |
| |
-0.481530 |
| |
-0.481694 |
| |
-0.481725 |
| |
-0.481919 |
| |
-0.482097 |
| |
-0.482113 |
| |
-0.482135 |
|
|
|
|
|
 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.
|
