|
|
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 |
| |
-0.757561 |
| |
-0.757571 |
| |
-0.757616 |
| |
-0.757638 |
| |
-0.757768 |
| |
-0.757824 |
| |
-0.757848 |
| |
-0.757882 |
| |
-0.758015 |
| |
-0.758064 |
| |
-0.758112 |
| |
-0.758153 |
| |
-0.758275 |
| |
-0.758278 |
| |
-0.758303 |
| |
-0.758383 |
| |
-0.758509 |
| |
-0.758665 |
| |
-0.758714 |
| |
-0.758714 |
| |
-0.758721 |
| |
-0.758943 |
| |
-0.759039 |
| |
-0.759053 |
| |
-0.759100 |
|
|
|
|
|
 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.
|
