|
|
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 |
| |
-0.434071 |
| |
-0.434081 |
| |
-0.434084 |
| |
-0.434096 |
| |
-0.434165 |
| |
-0.434166 |
| |
-0.434172 |
| |
-0.434193 |
| |
-0.434222 |
| |
-0.434249 |
| |
-0.434254 |
| |
-0.434285 |
| |
-0.434325 |
| |
-0.434344 |
| |
-0.434371 |
| |
-0.434390 |
| |
-0.434428 |
| |
-0.434450 |
| |
-0.434494 |
| |
-0.434576 |
| |
-0.434580 |
| |
-0.434619 |
| |
-0.434622 |
| |
-0.434629 |
| |
-0.434691 |
|
|
|
|
|
 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.
|
