|
|
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 |
| |
-0.545773 |
| |
-0.546034 |
| |
-0.546292 |
| |
-0.546322 |
| |
-0.546524 |
| |
-0.546647 |
| |
-0.546647 |
| |
-0.546659 |
| |
-0.546682 |
| |
-0.546848 |
| |
-0.546985 |
| |
-0.547334 |
| |
-0.547334 |
| |
-0.547410 |
| |
-0.547410 |
| |
-0.547574 |
| |
-0.547574 |
| |
-0.547800 |
| |
-0.547812 |
| |
-0.547852 |
| |
-0.547985 |
| |
-0.548542 |
| |
-0.548590 |
| |
-0.548921 |
| |
-0.548921 |
|
|
|
|
|
 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.
|
