|
|
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 |
| |
-0.849366 |
| |
-0.849812 |
| |
-0.850358 |
| |
-0.850546 |
| |
-0.850546 |
| |
-0.850715 |
| |
-0.850863 |
| |
-0.851164 |
| |
-0.851517 |
| |
-0.851627 |
| |
-0.852086 |
| |
-0.852576 |
| |
-0.852603 |
| |
-0.852977 |
| |
-0.853166 |
| |
-0.853292 |
| |
-0.853462 |
| |
-0.854117 |
| |
-0.854319 |
| |
-0.854338 |
| |
-0.854804 |
| |
-0.855173 |
| |
-0.855522 |
| |
-0.855748 |
| |
-0.856563 |
|
|
|
|
|
 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.
|
