|
|
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 |
| |
-0.203055 |
| |
-0.203465 |
| |
-0.203504 |
| |
-0.203725 |
| |
-0.203943 |
| |
-0.204010 |
| |
-0.204244 |
| |
-0.204248 |
| |
-0.204263 |
| |
-0.204295 |
| |
-0.204301 |
| |
-0.204304 |
| |
-0.204405 |
| |
-0.204425 |
| |
-0.204505 |
| |
-0.204548 |
| |
-0.204589 |
| |
-0.204914 |
| |
-0.204922 |
| |
-0.205447 |
| |
-0.205776 |
| |
-0.205864 |
| |
-0.205868 |
| |
-0.205877 |
| |
-0.206026 |
|
|
|
|
|
 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.
|
