|
|
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 |
| |
-0.489310 |
| |
-0.489334 |
| |
-0.489404 |
| |
-0.489456 |
| |
-0.489607 |
| |
-0.489659 |
| |
-0.489692 |
| |
-0.489753 |
| |
-0.489769 |
| |
-0.489935 |
| |
-0.489956 |
| |
-0.490002 |
| |
-0.490018 |
| |
-0.490055 |
| |
-0.490064 |
| |
-0.490065 |
| |
-0.490071 |
| |
-0.490207 |
| |
-0.490223 |
| |
-0.490323 |
| |
-0.490386 |
| |
-0.490444 |
| |
-0.490446 |
| |
-0.490507 |
| |
-0.490560 |
|
|
|
|
|
 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.
|
