|
|
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 |
| |
-0.739235 |
| |
-0.739585 |
| |
-0.739587 |
| |
-0.739621 |
| |
-0.739773 |
| |
-0.740108 |
| |
-0.740240 |
| |
-0.740277 |
| |
-0.741161 |
| |
-0.742305 |
| |
-0.742359 |
| |
-0.742831 |
| |
-0.742836 |
| |
-0.742864 |
| |
-0.743084 |
| |
-0.743355 |
| |
-0.743760 |
| |
-0.743891 |
| |
-0.745163 |
| |
-0.745937 |
| |
-0.745985 |
| |
-0.747228 |
| |
-0.747404 |
| |
-0.747406 |
| |
-0.747406 |
|
|
|
|
|
 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.
|
