|
|
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 |
| |
-0.687028 |
| |
-0.687038 |
| |
-0.687153 |
| |
-0.687201 |
| |
-0.687263 |
| |
-0.687330 |
| |
-0.687383 |
| |
-0.687482 |
| |
-0.687482 |
| |
-0.687491 |
| |
-0.687513 |
| |
-0.687558 |
| |
-0.687594 |
| |
-0.687843 |
| |
-0.687853 |
| |
-0.687853 |
| |
-0.687971 |
| |
-0.688019 |
| |
-0.688155 |
| |
-0.688183 |
| |
-0.688320 |
| |
-0.688352 |
| |
-0.688360 |
| |
-0.688462 |
| |
-0.688476 |
|
|
|
|
|
 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.
|
