|
|
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 |
| |
-0.002701 |
| |
-0.002854 |
| |
-0.003117 |
| |
-0.003340 |
| |
-0.003377 |
| |
-0.003762 |
| |
-0.004051 |
| |
-0.004057 |
| |
-0.004320 |
| |
-0.004383 |
| |
-0.004398 |
| |
-0.004536 |
| |
-0.004884 |
| |
-0.004930 |
| |
-0.005052 |
| |
-0.005302 |
| |
-0.005625 |
| |
-0.005686 |
| |
-0.006017 |
| |
-0.006091 |
| |
-0.006359 |
| |
-0.007031 |
| |
-0.007042 |
| |
-0.007402 |
| |
-0.007435 |
|
|
|
|
|
 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.
|
