|
|
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 |
| |
-0.506507 |
| |
-0.506639 |
| |
-0.506905 |
| |
-0.506954 |
| |
-0.507346 |
| |
-0.507551 |
| |
-0.507583 |
| |
-0.507632 |
| |
-0.507757 |
| |
-0.508236 |
| |
-0.508851 |
| |
-0.509288 |
| |
-0.509604 |
| |
-0.509604 |
| |
-0.509825 |
| |
-0.509825 |
| |
-0.510162 |
| |
-0.510353 |
| |
-0.510911 |
| |
-0.510937 |
| |
-0.511233 |
| |
-0.511233 |
| |
-0.511313 |
| |
-0.511424 |
| |
-0.512197 |
|
|
|
|
|
 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.
|
