|
|
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 |
| |
-0.664555 |
| |
-0.664647 |
| |
-0.664677 |
| |
-0.664702 |
| |
-0.664724 |
| |
-0.664749 |
| |
-0.664844 |
| |
-0.664881 |
| |
-0.665714 |
| |
-0.665807 |
| |
-0.666076 |
| |
-0.666082 |
| |
-0.666184 |
| |
-0.666241 |
| |
-0.666241 |
| |
-0.666461 |
| |
-0.666463 |
| |
-0.666554 |
| |
-0.666602 |
| |
-0.666602 |
| |
-0.666675 |
| |
-0.666692 |
| |
-0.666697 |
| |
-0.666824 |
| |
-0.666885 |
|
|
|
|
|
 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.
|
