|
|
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 |
| |
-0.123860 |
| |
-0.124206 |
| |
-0.124221 |
| |
-0.124493 |
| |
-0.124717 |
| |
-0.124976 |
| |
-0.125351 |
| |
-0.125408 |
| |
-0.125408 |
| |
-0.125431 |
| |
-0.125576 |
| |
-0.125805 |
| |
-0.125924 |
| |
-0.125990 |
| |
-0.126083 |
| |
-0.126124 |
| |
-0.126230 |
| |
-0.126390 |
| |
-0.126442 |
| |
-0.126533 |
| |
-0.126790 |
| |
-0.127070 |
| |
-0.127412 |
| |
-0.127519 |
| |
-0.127519 |
|
|
|
|
|
 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.
|
