|
|
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 |
| |
-0.050737 |
| |
-0.050869 |
| |
-0.050892 |
| |
-0.050990 |
| |
-0.051237 |
| |
-0.051266 |
| |
-0.051319 |
| |
-0.051436 |
| |
-0.051445 |
| |
-0.051736 |
| |
-0.051840 |
| |
-0.052136 |
| |
-0.052174 |
| |
-0.052256 |
| |
-0.052517 |
| |
-0.053199 |
| |
-0.053213 |
| |
-0.053271 |
| |
-0.053396 |
| |
-0.053454 |
| |
-0.053454 |
| |
-0.053460 |
| |
-0.053740 |
| |
-0.054175 |
| |
-0.054357 |
|
|
|
|
|
 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.
|
