|
|
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 |
| |
-0.299500 |
| |
-0.299514 |
| |
-0.299577 |
| |
-0.299601 |
| |
-0.299654 |
| |
-0.299679 |
| |
-0.299689 |
| |
-0.299757 |
| |
-0.299759 |
| |
-0.299773 |
| |
-0.299775 |
| |
-0.299812 |
| |
-0.299813 |
| |
-0.299814 |
| |
-0.299902 |
| |
-0.299934 |
| |
-0.299950 |
| |
-0.299968 |
| |
-0.300029 |
| |
-0.300082 |
| |
-0.300087 |
| |
-0.300124 |
| |
-0.300126 |
| |
-0.300158 |
| |
-0.300167 |
|
|
|
|
|
 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.
|
