|
|
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 |
| |
-0.096645 |
| |
-0.096750 |
| |
-0.096885 |
| |
-0.097042 |
| |
-0.097083 |
| |
-0.097307 |
| |
-0.097307 |
| |
-0.097355 |
| |
-0.097414 |
| |
-0.097772 |
| |
-0.097836 |
| |
-0.097903 |
| |
-0.097980 |
| |
-0.098009 |
| |
-0.098009 |
| |
-0.098086 |
| |
-0.098181 |
| |
-0.098303 |
| |
-0.098551 |
| |
-0.098626 |
| |
-0.098668 |
| |
-0.098761 |
| |
-0.098971 |
| |
-0.099300 |
| |
-0.099460 |
|
|
|
|
|
 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.
|
