|
|
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 |
| |
-0.397584 |
| |
-0.397598 |
| |
-0.397642 |
| |
-0.397654 |
| |
-0.397658 |
| |
-0.397682 |
| |
-0.397687 |
| |
-0.397767 |
| |
-0.397805 |
| |
-0.397828 |
| |
-0.397853 |
| |
-0.397933 |
| |
-0.398033 |
| |
-0.398056 |
| |
-0.398068 |
| |
-0.398080 |
| |
-0.398084 |
| |
-0.398092 |
| |
-0.398109 |
| |
-0.398127 |
| |
-0.398155 |
| |
-0.398180 |
| |
-0.398214 |
| |
-0.398215 |
| |
-0.398224 |
|
|
|
|
|
 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.
|
