|
|
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 |
| |
-0.365131 |
| |
-0.365190 |
| |
-0.365523 |
| |
-0.365608 |
| |
-0.365979 |
| |
-0.366024 |
| |
-0.366259 |
| |
-0.366385 |
| |
-0.366686 |
| |
-0.366973 |
| |
-0.366985 |
| |
-0.367054 |
| |
-0.367816 |
| |
-0.367906 |
| |
-0.367917 |
| |
-0.368025 |
| |
-0.368780 |
| |
-0.368814 |
| |
-0.369013 |
| |
-0.369933 |
| |
-0.370220 |
| |
-0.370225 |
| |
-0.370298 |
| |
-0.370712 |
| |
-0.370716 |
|
|
|
|
|
 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.
|
