|
|
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 |
| |
-0.353920 |
| |
-0.353979 |
| |
-0.354703 |
| |
-0.354703 |
| |
-0.355144 |
| |
-0.355233 |
| |
-0.355340 |
| |
-0.356332 |
| |
-0.356461 |
| |
-0.356550 |
| |
-0.356559 |
| |
-0.356581 |
| |
-0.357269 |
| |
-0.357344 |
| |
-0.357939 |
| |
-0.357974 |
| |
-0.358406 |
| |
-0.358406 |
| |
-0.359156 |
| |
-0.359818 |
| |
-0.359918 |
| |
-0.360731 |
| |
-0.360844 |
| |
-0.361381 |
| |
-0.362200 |
|
|
|
|
|
 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.
|
