|
|
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 |
| |
-0.039319 |
| |
-0.039362 |
| |
-0.039514 |
| |
-0.039891 |
| |
-0.039920 |
| |
-0.040059 |
| |
-0.040246 |
| |
-0.040315 |
| |
-0.040402 |
| |
-0.040555 |
| |
-0.040570 |
| |
-0.040862 |
| |
-0.041213 |
| |
-0.041244 |
| |
-0.041910 |
| |
-0.041922 |
| |
-0.042105 |
| |
-0.042149 |
| |
-0.042266 |
| |
-0.042391 |
| |
-0.042791 |
| |
-0.042796 |
| |
-0.043275 |
| |
-0.043288 |
| |
-0.043428 |
|
|
|
|
|
 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.
|
