|
|
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 |
| |
-0.853636 |
| |
-0.853671 |
| |
-0.853742 |
| |
-0.853788 |
| |
-0.853814 |
| |
-0.853835 |
| |
-0.853850 |
| |
-0.853882 |
| |
-0.853989 |
| |
-0.854055 |
| |
-0.854075 |
| |
-0.854165 |
| |
-0.854189 |
| |
-0.854203 |
| |
-0.854287 |
| |
-0.854296 |
| |
-0.854296 |
| |
-0.854302 |
| |
-0.854327 |
| |
-0.854417 |
| |
-0.854417 |
| |
-0.854429 |
| |
-0.854449 |
| |
-0.854465 |
| |
-0.854569 |
|
|
|
|
|
 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.
|
