|
|
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 |
| |
-0.640523 |
| |
-0.640549 |
| |
-0.640579 |
| |
-0.640748 |
| |
-0.640806 |
| |
-0.640836 |
| |
-0.640873 |
| |
-0.640890 |
| |
-0.640956 |
| |
-0.641020 |
| |
-0.641218 |
| |
-0.641228 |
| |
-0.641293 |
| |
-0.641320 |
| |
-0.641328 |
| |
-0.641351 |
| |
-0.641363 |
| |
-0.641369 |
| |
-0.641375 |
| |
-0.641500 |
| |
-0.641772 |
| |
-0.641879 |
| |
-0.641918 |
| |
-0.641959 |
| |
-0.642028 |
|
|
|
|
|
 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.
|
