|
|
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 |
| |
-0.490581 |
| |
-0.490662 |
| |
-0.490718 |
| |
-0.490754 |
| |
-0.490754 |
| |
-0.490855 |
| |
-0.490891 |
| |
-0.490931 |
| |
-0.491004 |
| |
-0.491021 |
| |
-0.491024 |
| |
-0.491106 |
| |
-0.491108 |
| |
-0.491228 |
| |
-0.491241 |
| |
-0.491271 |
| |
-0.491307 |
| |
-0.491362 |
| |
-0.491369 |
| |
-0.491381 |
| |
-0.491502 |
| |
-0.491552 |
| |
-0.491710 |
| |
-0.491822 |
| |
-0.491855 |
|
|
|
|
|
 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.
|
