|
|
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 |
| |
-0.784667 |
| |
-0.785162 |
| |
-0.785670 |
| |
-0.785716 |
| |
-0.785906 |
| |
-0.785906 |
| |
-0.785957 |
| |
-0.786450 |
| |
-0.786619 |
| |
-0.787193 |
| |
-0.787479 |
| |
-0.789254 |
| |
-0.789349 |
| |
-0.790068 |
| |
-0.790381 |
| |
-0.790855 |
| |
-0.791025 |
| |
-0.791025 |
| |
-0.791544 |
| |
-0.792963 |
| |
-0.793195 |
| |
-0.794124 |
| |
-0.794124 |
| |
-0.795521 |
| |
-0.796101 |
|
|
|
|
|
 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.
|
