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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.
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Symbol | Correlation |
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-0.031031 |
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-0.027702 |
| |
-0.037677 |
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-0.036022 |
| |
0.217751 |
| |
-0.145291 |
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-0.261363 |
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0.244505 |
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-0.018078 |
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0.213063 |
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-0.147601 |
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-0.147857 |
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0.100455 |
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0.235465 |
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-0.152586 |
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-0.045256 |
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-0.429098 |
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0.463744 |
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-0.299356 |
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0.393505 |
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0.075153 |
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-0.424563 |
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0.241991 |
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-0.142954 |
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-0.219406 |
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 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.
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