|
|
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 |
| |
-0.491509 |
| |
-0.491509 |
| |
-0.491554 |
| |
-0.491567 |
| |
-0.491985 |
| |
-0.492063 |
| |
-0.492169 |
| |
-0.492293 |
| |
-0.492293 |
| |
-0.492540 |
| |
-0.492540 |
| |
-0.492571 |
| |
-0.492588 |
| |
-0.492765 |
| |
-0.493054 |
| |
-0.493229 |
| |
-0.493703 |
| |
-0.493728 |
| |
-0.493791 |
| |
-0.493896 |
| |
-0.493991 |
| |
-0.494276 |
| |
-0.494553 |
| |
-0.494777 |
| |
-0.494861 |
|
|
|
|
|
 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.
|
