|
|
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 |
| |
-0.826381 |
| |
-0.826480 |
| |
-0.826806 |
| |
-0.826859 |
| |
-0.827090 |
| |
-0.827218 |
| |
-0.827231 |
| |
-0.827272 |
| |
-0.827375 |
| |
-0.827443 |
| |
-0.827525 |
| |
-0.827624 |
| |
-0.827729 |
| |
-0.827789 |
| |
-0.827797 |
| |
-0.827815 |
| |
-0.827824 |
| |
-0.827828 |
| |
-0.827874 |
| |
-0.827914 |
| |
-0.828004 |
| |
-0.828014 |
| |
-0.828117 |
| |
-0.828140 |
| |
-0.828187 |
|
|
|
|
|
 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.
|
