|
|
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 |
| |
-0.488004 |
| |
-0.488047 |
| |
-0.488222 |
| |
-0.488238 |
| |
-0.488344 |
| |
-0.488452 |
| |
-0.488485 |
| |
-0.488535 |
| |
-0.488593 |
| |
-0.488608 |
| |
-0.488672 |
| |
-0.488751 |
| |
-0.488751 |
| |
-0.488772 |
| |
-0.488809 |
| |
-0.488830 |
| |
-0.488834 |
| |
-0.488841 |
| |
-0.488841 |
| |
-0.488949 |
| |
-0.488968 |
| |
-0.488969 |
| |
-0.489032 |
| |
-0.489074 |
| |
-0.489074 |
|
|
|
|
|
 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.
|
