|
|
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 |
| |
-0.418874 |
| |
-0.418879 |
| |
-0.418909 |
| |
-0.418944 |
| |
-0.418962 |
| |
-0.418987 |
| |
-0.419047 |
| |
-0.419053 |
| |
-0.419086 |
| |
-0.419086 |
| |
-0.419102 |
| |
-0.419120 |
| |
-0.419142 |
| |
-0.419176 |
| |
-0.419190 |
| |
-0.419245 |
| |
-0.419290 |
| |
-0.419323 |
| |
-0.419363 |
| |
-0.419386 |
| |
-0.419390 |
| |
-0.419401 |
| |
-0.419411 |
| |
-0.419432 |
| |
-0.419454 |
|
|
|
|
|
 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.
|
