|
|
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 |
| |
-0.413493 |
| |
-0.413518 |
| |
-0.413532 |
| |
-0.413540 |
| |
-0.413566 |
| |
-0.413571 |
| |
-0.413572 |
| |
-0.413573 |
| |
-0.413641 |
| |
-0.413650 |
| |
-0.413672 |
| |
-0.413707 |
| |
-0.413709 |
| |
-0.413723 |
| |
-0.413894 |
| |
-0.413938 |
| |
-0.413955 |
| |
-0.413971 |
| |
-0.413999 |
| |
-0.414010 |
| |
-0.414056 |
| |
-0.414070 |
| |
-0.414089 |
| |
-0.414252 |
| |
-0.414276 |
|
|
|
|
|
 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.
|
