|
|
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 |
| |
-0.454553 |
| |
-0.454557 |
| |
-0.454790 |
| |
-0.454806 |
| |
-0.454806 |
| |
-0.454826 |
| |
-0.454832 |
| |
-0.454874 |
| |
-0.454936 |
| |
-0.454965 |
| |
-0.455020 |
| |
-0.455043 |
| |
-0.455061 |
| |
-0.455075 |
| |
-0.455160 |
| |
-0.455180 |
| |
-0.455312 |
| |
-0.455326 |
| |
-0.455329 |
| |
-0.455339 |
| |
-0.455388 |
| |
-0.455480 |
| |
-0.455483 |
| |
-0.455608 |
| |
-0.455617 |
|
|
|
|
|
 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.
|
