|
|
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 |
| |
-0.756526 |
| |
-0.757091 |
| |
-0.757313 |
| |
-0.757980 |
| |
-0.758127 |
| |
-0.758593 |
| |
-0.759096 |
| |
-0.759421 |
| |
-0.759424 |
| |
-0.760067 |
| |
-0.760253 |
| |
-0.760438 |
| |
-0.760983 |
| |
-0.761338 |
| |
-0.761414 |
| |
-0.761586 |
| |
-0.761641 |
| |
-0.762785 |
| |
-0.763235 |
| |
-0.763297 |
| |
-0.763540 |
| |
-0.763647 |
| |
-0.763834 |
| |
-0.764439 |
| |
-0.766878 |
|
|
|
|
|
 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.
|
