|
|
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 |
| |
-0.578951 |
| |
-0.579617 |
| |
-0.580272 |
| |
-0.580563 |
| |
-0.580563 |
| |
-0.580764 |
| |
-0.581077 |
| |
-0.581201 |
| |
-0.581355 |
| |
-0.581685 |
| |
-0.582191 |
| |
-0.582232 |
| |
-0.582251 |
| |
-0.582456 |
| |
-0.582474 |
| |
-0.582772 |
| |
-0.582904 |
| |
-0.583056 |
| |
-0.583181 |
| |
-0.583660 |
| |
-0.584140 |
| |
-0.584346 |
| |
-0.584539 |
| |
-0.585043 |
| |
-0.585149 |
|
|
|
|
|
 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.
|
