|
|
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 |
| |
-0.535501 |
| |
-0.535509 |
| |
-0.535520 |
| |
-0.535562 |
| |
-0.535768 |
| |
-0.535827 |
| |
-0.535992 |
| |
-0.536056 |
| |
-0.536220 |
| |
-0.536301 |
| |
-0.536302 |
| |
-0.536372 |
| |
-0.536459 |
| |
-0.536528 |
| |
-0.536754 |
| |
-0.536754 |
| |
-0.536836 |
| |
-0.536889 |
| |
-0.536998 |
| |
-0.537055 |
| |
-0.537055 |
| |
-0.537178 |
| |
-0.537200 |
| |
-0.537250 |
| |
-0.537418 |
|
|
|
|
|
 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.
|
