|
|
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 |
| |
-0.016375 |
| |
-0.016665 |
| |
-0.016687 |
| |
-0.016999 |
| |
-0.017290 |
| |
-0.017614 |
| |
-0.018030 |
| |
-0.018227 |
| |
-0.018384 |
| |
-0.018477 |
| |
-0.018597 |
| |
-0.019038 |
| |
-0.019095 |
| |
-0.019095 |
| |
-0.019345 |
| |
-0.019362 |
| |
-0.019541 |
| |
-0.019567 |
| |
-0.019769 |
| |
-0.019826 |
| |
-0.020492 |
| |
-0.020492 |
| |
-0.020864 |
| |
-0.020945 |
| |
-0.020945 |
|
|
|
|
|
 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.
|
