|
|
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 |
| |
-0.905335 |
| |
-0.905554 |
| |
-0.905913 |
| |
-0.907203 |
| |
-0.907206 |
| |
-0.909488 |
| |
-0.909618 |
| |
-0.910660 |
| |
-0.910708 |
| |
-0.910817 |
| |
-0.911256 |
| |
-0.911384 |
| |
-0.911525 |
| |
-0.912463 |
| |
-0.913053 |
| |
-0.913227 |
| |
-0.913330 |
| |
-0.914451 |
| |
-0.914560 |
| |
-0.915540 |
| |
-0.915543 |
| |
-0.915634 |
| |
-0.915829 |
| |
-0.915853 |
| |
-0.916572 |
|
|
|
|
|
 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.
|
