|
|
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 |
| |
-0.866925 |
| |
-0.866965 |
| |
-0.866981 |
| |
-0.866998 |
| |
-0.867125 |
| |
-0.867160 |
| |
-0.867180 |
| |
-0.867182 |
| |
-0.867240 |
| |
-0.867289 |
| |
-0.867315 |
| |
-0.867329 |
| |
-0.867431 |
| |
-0.867448 |
| |
-0.867501 |
| |
-0.867540 |
| |
-0.867704 |
| |
-0.867716 |
| |
-0.867768 |
| |
-0.867814 |
| |
-0.867851 |
| |
-0.867922 |
| |
-0.867970 |
| |
-0.868086 |
| |
-0.868163 |
|
|
|
|
|
 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.
|
