|
|
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 |
| |
-0.857463 |
| |
-0.857483 |
| |
-0.857531 |
| |
-0.857558 |
| |
-0.857590 |
| |
-0.857615 |
| |
-0.857620 |
| |
-0.857624 |
| |
-0.857624 |
| |
-0.857662 |
| |
-0.857871 |
| |
-0.857879 |
| |
-0.858087 |
| |
-0.858178 |
| |
-0.858178 |
| |
-0.858252 |
| |
-0.858280 |
| |
-0.858304 |
| |
-0.858381 |
| |
-0.858430 |
| |
-0.858460 |
| |
-0.858496 |
| |
-0.858508 |
| |
-0.858528 |
| |
-0.858567 |
|
|
|
|
|
 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.
|
