|
|
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 |
| |
-0.428991 |
| |
-0.429080 |
| |
-0.429094 |
| |
-0.429191 |
| |
-0.429197 |
| |
-0.429198 |
| |
-0.429217 |
| |
-0.429265 |
| |
-0.429270 |
| |
-0.429356 |
| |
-0.429364 |
| |
-0.429378 |
| |
-0.429444 |
| |
-0.429523 |
| |
-0.429537 |
| |
-0.429546 |
| |
-0.429559 |
| |
-0.429593 |
| |
-0.429633 |
| |
-0.429656 |
| |
-0.429694 |
| |
-0.429727 |
| |
-0.429735 |
| |
-0.429782 |
| |
-0.429844 |
|
|
|
|
|
 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.
|
