|
|
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 |
| |
-0.426159 |
| |
-0.426182 |
| |
-0.426192 |
| |
-0.426224 |
| |
-0.426286 |
| |
-0.426307 |
| |
-0.426421 |
| |
-0.426427 |
| |
-0.426457 |
| |
-0.426476 |
| |
-0.426505 |
| |
-0.426514 |
| |
-0.426587 |
| |
-0.426706 |
| |
-0.426795 |
| |
-0.426898 |
| |
-0.427044 |
| |
-0.427055 |
| |
-0.427064 |
| |
-0.427100 |
| |
-0.427103 |
| |
-0.427140 |
| |
-0.427146 |
| |
-0.427168 |
| |
-0.427189 |
|
|
|
|
|
 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.
|
