|
|
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 |
| |
-0.522962 |
| |
-0.523110 |
| |
-0.523118 |
| |
-0.523188 |
| |
-0.523204 |
| |
-0.523351 |
| |
-0.524028 |
| |
-0.524180 |
| |
-0.524545 |
| |
-0.524545 |
| |
-0.524662 |
| |
-0.524813 |
| |
-0.525125 |
| |
-0.525360 |
| |
-0.525525 |
| |
-0.525726 |
| |
-0.525737 |
| |
-0.525742 |
| |
-0.525960 |
| |
-0.526008 |
| |
-0.526398 |
| |
-0.527078 |
| |
-0.527220 |
| |
-0.528028 |
| |
-0.528138 |
|
|
|
|
|
 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.
|
