|
|
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 |
| |
-0.517119 |
| |
-0.517760 |
| |
-0.518320 |
| |
-0.518640 |
| |
-0.518912 |
| |
-0.519036 |
| |
-0.519088 |
| |
-0.519319 |
| |
-0.519597 |
| |
-0.519645 |
| |
-0.519824 |
| |
-0.519986 |
| |
-0.520181 |
| |
-0.520319 |
| |
-0.520319 |
| |
-0.520786 |
| |
-0.521184 |
| |
-0.521330 |
| |
-0.521728 |
| |
-0.521878 |
| |
-0.522565 |
| |
-0.522668 |
| |
-0.522696 |
| |
-0.522699 |
| |
-0.522863 |
|
|
|
|
|
 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.
|
