|
|
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 |
| |
-0.392087 |
| |
-0.392229 |
| |
-0.392263 |
| |
-0.392281 |
| |
-0.392389 |
| |
-0.392462 |
| |
-0.392504 |
| |
-0.392527 |
| |
-0.392574 |
| |
-0.392660 |
| |
-0.392740 |
| |
-0.392742 |
| |
-0.392743 |
| |
-0.392755 |
| |
-0.392808 |
| |
-0.392842 |
| |
-0.392930 |
| |
-0.392975 |
| |
-0.392980 |
| |
-0.393001 |
| |
-0.393003 |
| |
-0.393015 |
| |
-0.393025 |
| |
-0.393042 |
| |
-0.393071 |
|
|
|
|
|
 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.
|
