|
|
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 |
| |
-0.810803 |
| |
-0.810832 |
| |
-0.810852 |
| |
-0.810854 |
| |
-0.810854 |
| |
-0.810934 |
| |
-0.811016 |
| |
-0.811078 |
| |
-0.811268 |
| |
-0.811318 |
| |
-0.811358 |
| |
-0.811378 |
| |
-0.811378 |
| |
-0.811398 |
| |
-0.811399 |
| |
-0.811537 |
| |
-0.811687 |
| |
-0.811704 |
| |
-0.811719 |
| |
-0.811797 |
| |
-0.811806 |
| |
-0.811812 |
| |
-0.811820 |
| |
-0.811847 |
| |
-0.811907 |
|
|
|
|
|
 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.
|
