|
|
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 |
| |
-0.496651 |
| |
-0.496669 |
| |
-0.496683 |
| |
-0.496852 |
| |
-0.497006 |
| |
-0.497043 |
| |
-0.497323 |
| |
-0.497323 |
| |
-0.497563 |
| |
-0.497685 |
| |
-0.498158 |
| |
-0.498177 |
| |
-0.498344 |
| |
-0.498925 |
| |
-0.498986 |
| |
-0.498992 |
| |
-0.499186 |
| |
-0.499318 |
| |
-0.499425 |
| |
-0.499444 |
| |
-0.499444 |
| |
-0.499764 |
| |
-0.499840 |
| |
-0.499854 |
| |
-0.499854 |
|
|
|
|
|
 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.
|
