|
|
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 |
| |
-0.697748 |
| |
-0.697903 |
| |
-0.697964 |
| |
-0.698081 |
| |
-0.698130 |
| |
-0.698134 |
| |
-0.698176 |
| |
-0.698210 |
| |
-0.698317 |
| |
-0.698331 |
| |
-0.698379 |
| |
-0.698416 |
| |
-0.698479 |
| |
-0.698501 |
| |
-0.698501 |
| |
-0.698694 |
| |
-0.698702 |
| |
-0.698717 |
| |
-0.698721 |
| |
-0.698787 |
| |
-0.698980 |
| |
-0.698987 |
| |
-0.699091 |
| |
-0.699326 |
| |
-0.699379 |
|
|
|
|
|
 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.
|
