|
|
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 |
| |
-0.815058 |
| |
-0.815077 |
| |
-0.815088 |
| |
-0.815129 |
| |
-0.815129 |
| |
-0.815247 |
| |
-0.815278 |
| |
-0.815280 |
| |
-0.815293 |
| |
-0.815608 |
| |
-0.815759 |
| |
-0.815780 |
| |
-0.815844 |
| |
-0.815943 |
| |
-0.816030 |
| |
-0.816151 |
| |
-0.816156 |
| |
-0.816275 |
| |
-0.816314 |
| |
-0.816332 |
| |
-0.816668 |
| |
-0.816781 |
| |
-0.816832 |
| |
-0.816984 |
| |
-0.817117 |
|
|
|
|
|
 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.
|
