|
|
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 |
| |
-0.457926 |
| |
-0.457934 |
| |
-0.457993 |
| |
-0.458019 |
| |
-0.458049 |
| |
-0.458049 |
| |
-0.458053 |
| |
-0.458059 |
| |
-0.458191 |
| |
-0.458194 |
| |
-0.458251 |
| |
-0.458251 |
| |
-0.458255 |
| |
-0.458281 |
| |
-0.458293 |
| |
-0.458405 |
| |
-0.458447 |
| |
-0.458470 |
| |
-0.458558 |
| |
-0.458597 |
| |
-0.458597 |
| |
-0.458611 |
| |
-0.458685 |
| |
-0.458774 |
| |
-0.458816 |
|
|
|
|
|
 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.
|
