|
|
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 |
| |
-0.728967 |
| |
-0.728967 |
| |
-0.728983 |
| |
-0.729017 |
| |
-0.729036 |
| |
-0.729423 |
| |
-0.729592 |
| |
-0.729622 |
| |
-0.729655 |
| |
-0.729681 |
| |
-0.729686 |
| |
-0.729687 |
| |
-0.729782 |
| |
-0.729848 |
| |
-0.729888 |
| |
-0.730088 |
| |
-0.730088 |
| |
-0.730089 |
| |
-0.730111 |
| |
-0.730507 |
| |
-0.730601 |
| |
-0.730601 |
| |
-0.730620 |
| |
-0.730636 |
| |
-0.730720 |
|
|
|
|
|
 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.
|
