|
|
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 |
| |
-0.067151 |
| |
-0.067697 |
| |
-0.067761 |
| |
-0.067981 |
| |
-0.068559 |
| |
-0.068641 |
| |
-0.068833 |
| |
-0.068905 |
| |
-0.068959 |
| |
-0.068979 |
| |
-0.069134 |
| |
-0.070292 |
| |
-0.070308 |
| |
-0.070336 |
| |
-0.070552 |
| |
-0.070557 |
| |
-0.071441 |
| |
-0.071441 |
| |
-0.072691 |
| |
-0.072844 |
| |
-0.073250 |
| |
-0.073441 |
| |
-0.073512 |
| |
-0.073570 |
| |
-0.074441 |
|
|
|
|
|
 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.
|
