|
|
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 |
| |
-0.796101 |
| |
-0.798701 |
| |
-0.798701 |
| |
-0.799123 |
| |
-0.799123 |
| |
-0.800108 |
| |
-0.800108 |
| |
-0.800252 |
| |
-0.800373 |
| |
-0.800490 |
| |
-0.800493 |
| |
-0.801843 |
| |
-0.803685 |
| |
-0.803685 |
| |
-0.804173 |
| |
-0.804678 |
| |
-0.804765 |
| |
-0.805192 |
| |
-0.805192 |
| |
-0.806071 |
| |
-0.806574 |
| |
-0.807651 |
| |
-0.810334 |
| |
-0.810334 |
| |
-0.811364 |
|
|
|
|
|
 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.
|
