|
|
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 |
| |
-0.887026 |
| |
-0.887050 |
| |
-0.887185 |
| |
-0.887259 |
| |
-0.887260 |
| |
-0.887279 |
| |
-0.887421 |
| |
-0.887483 |
| |
-0.887568 |
| |
-0.887591 |
| |
-0.887681 |
| |
-0.887681 |
| |
-0.888097 |
| |
-0.888181 |
| |
-0.888205 |
| |
-0.888325 |
| |
-0.888342 |
| |
-0.888353 |
| |
-0.888353 |
| |
-0.888362 |
| |
-0.888605 |
| |
-0.888666 |
| |
-0.888792 |
| |
-0.888792 |
| |
-0.888893 |
|
|
|
|
|
 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.
|
