|
|
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 |
| |
-0.696237 |
| |
-0.696247 |
| |
-0.696292 |
| |
-0.696333 |
| |
-0.696390 |
| |
-0.696390 |
| |
-0.696491 |
| |
-0.696538 |
| |
-0.696546 |
| |
-0.696584 |
| |
-0.696585 |
| |
-0.696689 |
| |
-0.696769 |
| |
-0.696829 |
| |
-0.696866 |
| |
-0.696947 |
| |
-0.696989 |
| |
-0.697067 |
| |
-0.697229 |
| |
-0.697297 |
| |
-0.697299 |
| |
-0.697299 |
| |
-0.697427 |
| |
-0.697582 |
| |
-0.697641 |
|
|
|
|
|
 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.
|
