|
|
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 |
| |
-0.357542 |
| |
-0.357584 |
| |
-0.357587 |
| |
-0.357587 |
| |
-0.357781 |
| |
-0.357915 |
| |
-0.358549 |
| |
-0.358760 |
| |
-0.358895 |
| |
-0.359047 |
| |
-0.359383 |
| |
-0.359413 |
| |
-0.359470 |
| |
-0.359606 |
| |
-0.359626 |
| |
-0.359958 |
| |
-0.360232 |
| |
-0.360505 |
| |
-0.360607 |
| |
-0.360742 |
| |
-0.361250 |
| |
-0.361398 |
| |
-0.361621 |
| |
-0.361629 |
| |
-0.362124 |
|
|
|
|
|
 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.
|
