|
|
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 |
| |
-0.856604 |
| |
-0.856626 |
| |
-0.856637 |
| |
-0.856684 |
| |
-0.856759 |
| |
-0.856778 |
| |
-0.856821 |
| |
-0.856865 |
| |
-0.856882 |
| |
-0.856889 |
| |
-0.856967 |
| |
-0.856979 |
| |
-0.857015 |
| |
-0.857071 |
| |
-0.857107 |
| |
-0.857150 |
| |
-0.857180 |
| |
-0.857183 |
| |
-0.857200 |
| |
-0.857232 |
| |
-0.857294 |
| |
-0.857333 |
| |
-0.857377 |
| |
-0.857406 |
| |
-0.857448 |
|
|
|
|
|
 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.
|
