|
|
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 |
| |
-0.025173 |
| |
-0.025408 |
| |
-0.025468 |
| |
-0.025592 |
| |
-0.025697 |
| |
-0.025737 |
| |
-0.026091 |
| |
-0.026271 |
| |
-0.026271 |
| |
-0.026357 |
| |
-0.026566 |
| |
-0.026612 |
| |
-0.026620 |
| |
-0.026696 |
| |
-0.026793 |
| |
-0.026863 |
| |
-0.027043 |
| |
-0.027093 |
| |
-0.027136 |
| |
-0.027371 |
| |
-0.027397 |
| |
-0.027572 |
| |
-0.027711 |
| |
-0.027758 |
| |
-0.027920 |
|
|
|
|
|
 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.
|
