|
|
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 |
| |
-0.699411 |
| |
-0.699552 |
| |
-0.699552 |
| |
-0.699688 |
| |
-0.699751 |
| |
-0.699752 |
| |
-0.699791 |
| |
-0.699791 |
| |
-0.699859 |
| |
-0.699869 |
| |
-0.699966 |
| |
-0.700001 |
| |
-0.700160 |
| |
-0.700192 |
| |
-0.700241 |
| |
-0.700245 |
| |
-0.700246 |
| |
-0.700358 |
| |
-0.700374 |
| |
-0.700387 |
| |
-0.700490 |
| |
-0.700522 |
| |
-0.700534 |
| |
-0.700551 |
| |
-0.700554 |
|
|
|
|
|
 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.
|
