|
|
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 |
| |
-0.573462 |
| |
-0.573487 |
| |
-0.573568 |
| |
-0.573577 |
| |
-0.573731 |
| |
-0.573962 |
| |
-0.574007 |
| |
-0.574069 |
| |
-0.574315 |
| |
-0.574324 |
| |
-0.574725 |
| |
-0.574881 |
| |
-0.574981 |
| |
-0.574981 |
| |
-0.574997 |
| |
-0.575059 |
| |
-0.575460 |
| |
-0.575616 |
| |
-0.575817 |
| |
-0.575992 |
| |
-0.576053 |
| |
-0.576082 |
| |
-0.576082 |
| |
-0.576141 |
| |
-0.576169 |
|
|
|
|
|
 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.
|
