|
|
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 |
| |
-0.780138 |
| |
-0.780157 |
| |
-0.780217 |
| |
-0.780257 |
| |
-0.780257 |
| |
-0.780364 |
| |
-0.780374 |
| |
-0.780457 |
| |
-0.780462 |
| |
-0.780491 |
| |
-0.780550 |
| |
-0.780582 |
| |
-0.780665 |
| |
-0.780680 |
| |
-0.780721 |
| |
-0.780778 |
| |
-0.780812 |
| |
-0.780817 |
| |
-0.780870 |
| |
-0.780917 |
| |
-0.780919 |
| |
-0.780931 |
| |
-0.781010 |
| |
-0.781011 |
| |
-0.781105 |
|
|
|
|
|
 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.
|
