|
|
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 |
| |
-0.036101 |
| |
-0.036240 |
| |
-0.036343 |
| |
-0.036347 |
| |
-0.036432 |
| |
-0.036443 |
| |
-0.036767 |
| |
-0.036847 |
| |
-0.036950 |
| |
-0.037420 |
| |
-0.037476 |
| |
-0.037602 |
| |
-0.037639 |
| |
-0.037664 |
| |
-0.037705 |
| |
-0.037737 |
| |
-0.037991 |
| |
-0.037992 |
| |
-0.038042 |
| |
-0.038107 |
| |
-0.038244 |
| |
-0.038514 |
| |
-0.038776 |
| |
-0.039157 |
| |
-0.039282 |
|
|
|
|
|
 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.
|
