|
|
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 |
| |
-0.776575 |
| |
-0.776575 |
| |
-0.776953 |
| |
-0.777158 |
| |
-0.777449 |
| |
-0.777732 |
| |
-0.777755 |
| |
-0.777999 |
| |
-0.778208 |
| |
-0.778318 |
| |
-0.778489 |
| |
-0.778738 |
| |
-0.778837 |
| |
-0.779285 |
| |
-0.779826 |
| |
-0.779845 |
| |
-0.779864 |
| |
-0.779937 |
| |
-0.780024 |
| |
-0.780136 |
| |
-0.780161 |
| |
-0.780260 |
| |
-0.780272 |
| |
-0.780366 |
| |
-0.780774 |
|
|
|
|
|
 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.
|
