|
|
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 |
| |
-0.910779 |
| |
-0.911368 |
| |
-0.911399 |
| |
-0.911412 |
| |
-0.911434 |
| |
-0.911487 |
| |
-0.911524 |
| |
-0.911524 |
| |
-0.911539 |
| |
-0.911550 |
| |
-0.911681 |
| |
-0.911772 |
| |
-0.911775 |
| |
-0.911795 |
| |
-0.911795 |
| |
-0.911964 |
| |
-0.911966 |
| |
-0.911987 |
| |
-0.912523 |
| |
-0.912529 |
| |
-0.912558 |
| |
-0.912558 |
| |
-0.912811 |
| |
-0.912948 |
| |
-0.913162 |
|
|
|
|
|
 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.
|
