|
|
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 |
| |
-0.840609 |
| |
-0.841320 |
| |
-0.842084 |
| |
-0.842273 |
| |
-0.842468 |
| |
-0.842804 |
| |
-0.843022 |
| |
-0.843278 |
| |
-0.843294 |
| |
-0.843897 |
| |
-0.844234 |
| |
-0.844534 |
| |
-0.844952 |
| |
-0.845619 |
| |
-0.846026 |
| |
-0.847657 |
| |
-0.847672 |
| |
-0.848228 |
| |
-0.848309 |
| |
-0.848452 |
| |
-0.848630 |
| |
-0.849114 |
| |
-0.849233 |
| |
-0.849233 |
| |
-0.849297 |
|
|
|
|
|
 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.
|
