|
|
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 |
| |
-0.343287 |
| |
-0.343450 |
| |
-0.343515 |
| |
-0.343515 |
| |
-0.343989 |
| |
-0.344592 |
| |
-0.344593 |
| |
-0.344876 |
| |
-0.345206 |
| |
-0.345295 |
| |
-0.345465 |
| |
-0.345798 |
| |
-0.345874 |
| |
-0.346054 |
| |
-0.346641 |
| |
-0.347020 |
| |
-0.347328 |
| |
-0.347426 |
| |
-0.347539 |
| |
-0.348312 |
| |
-0.348809 |
| |
-0.349304 |
| |
-0.349307 |
| |
-0.349337 |
| |
-0.349445 |
|
|
|
|
|
 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.
|
