|
|
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 |
| |
-0.886541 |
| |
-0.886601 |
| |
-0.886992 |
| |
-0.886996 |
| |
-0.887019 |
| |
-0.887121 |
| |
-0.887211 |
| |
-0.887271 |
| |
-0.887407 |
| |
-0.887415 |
| |
-0.887419 |
| |
-0.888128 |
| |
-0.888212 |
| |
-0.888388 |
| |
-0.888692 |
| |
-0.888746 |
| |
-0.889201 |
| |
-0.889217 |
| |
-0.890131 |
| |
-0.890322 |
| |
-0.890360 |
| |
-0.890412 |
| |
-0.891887 |
| |
-0.892437 |
| |
-0.892659 |
|
|
|
|
|
 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.
|
