|
|
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 |
| |
-0.386615 |
| |
-0.386633 |
| |
-0.386678 |
| |
-0.386694 |
| |
-0.386789 |
| |
-0.386816 |
| |
-0.386829 |
| |
-0.386848 |
| |
-0.386849 |
| |
-0.386913 |
| |
-0.386981 |
| |
-0.387015 |
| |
-0.387029 |
| |
-0.387039 |
| |
-0.387071 |
| |
-0.387110 |
| |
-0.387113 |
| |
-0.387129 |
| |
-0.387141 |
| |
-0.387172 |
| |
-0.387175 |
| |
-0.387193 |
| |
-0.387199 |
| |
-0.387205 |
| |
-0.387291 |
|
|
|
|
|
 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.
|
