|
|
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 |
| |
-0.628101 |
| |
-0.628889 |
| |
-0.629304 |
| |
-0.629831 |
| |
-0.629888 |
| |
-0.632418 |
| |
-0.633956 |
| |
-0.633983 |
| |
-0.635359 |
| |
-0.635520 |
| |
-0.635549 |
| |
-0.635549 |
| |
-0.635721 |
| |
-0.635721 |
| |
-0.636133 |
| |
-0.636133 |
| |
-0.636708 |
| |
-0.636977 |
| |
-0.637953 |
| |
-0.637987 |
| |
-0.638151 |
| |
-0.638664 |
| |
-0.639211 |
| |
-0.639211 |
| |
-0.639361 |
|
|
|
|
|
 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.
|
