|
|
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 |
| |
-0.192322 |
| |
0.095145 |
| |
0.748253 |
| |
0.748253 |
| |
-0.312393 |
| |
-0.322367 |
| |
-0.137694 |
| |
-0.137694 |
| |
-0.464718 |
| |
-0.457664 |
| |
-0.897295 |
| |
0.968575 |
| |
0.965014 |
| |
0.855825 |
| |
0.949989 |
| |
0.611667 |
| |
0.612042 |
| |
0.912542 |
| |
0.872916 |
| |
0.472126 |
| |
0.131472 |
| |
0.131472 |
| |
-0.773427 |
| |
0.629484 |
| |
0.629484 |
|
|
|
|
|
 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.
|
