|
|
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 |
| |
-0.155835 |
| |
-0.155913 |
| |
-0.156269 |
| |
-0.157310 |
| |
-0.157564 |
| |
-0.157564 |
| |
-0.157834 |
| |
-0.157865 |
| |
-0.158200 |
| |
-0.159044 |
| |
-0.159158 |
| |
-0.159398 |
| |
-0.159448 |
| |
-0.159750 |
| |
-0.159943 |
| |
-0.160408 |
| |
-0.160623 |
| |
-0.161046 |
| |
-0.161133 |
| |
-0.161471 |
| |
-0.161505 |
| |
-0.161767 |
| |
-0.161948 |
| |
-0.162104 |
| |
-0.162282 |
|
|
|
|
|
 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.
|
