|
|
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 |
| |
-0.900415 |
| |
-0.900503 |
| |
-0.900553 |
| |
-0.900577 |
| |
-0.900702 |
| |
-0.900883 |
| |
-0.901018 |
| |
-0.901155 |
| |
-0.901337 |
| |
-0.901338 |
| |
-0.901355 |
| |
-0.901373 |
| |
-0.901374 |
| |
-0.901501 |
| |
-0.901584 |
| |
-0.901585 |
| |
-0.901615 |
| |
-0.901676 |
| |
-0.901797 |
| |
-0.901834 |
| |
-0.901921 |
| |
-0.901960 |
| |
-0.901970 |
| |
-0.901970 |
| |
-0.901987 |
|
|
|
|
|
 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.
|
