|
|
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 |
| |
-0.804531 |
| |
-0.804546 |
| |
-0.804559 |
| |
-0.804664 |
| |
-0.804674 |
| |
-0.804754 |
| |
-0.804810 |
| |
-0.804894 |
| |
-0.804946 |
| |
-0.804971 |
| |
-0.805147 |
| |
-0.805311 |
| |
-0.805363 |
| |
-0.805375 |
| |
-0.805384 |
| |
-0.805428 |
| |
-0.805438 |
| |
-0.805583 |
| |
-0.805817 |
| |
-0.805975 |
| |
-0.805992 |
| |
-0.806130 |
| |
-0.806164 |
| |
-0.806206 |
| |
-0.806362 |
|
|
|
|
|
 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.
|
