|
|
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 |
| |
-0.057684 |
| |
-0.058522 |
| |
-0.058699 |
| |
-0.059223 |
| |
-0.059260 |
| |
-0.059420 |
| |
-0.059673 |
| |
-0.060044 |
| |
-0.060044 |
| |
-0.060620 |
| |
-0.060988 |
| |
-0.061244 |
| |
-0.061332 |
| |
-0.061552 |
| |
-0.062020 |
| |
-0.062359 |
| |
-0.062507 |
| |
-0.062560 |
| |
-0.062669 |
| |
-0.062951 |
| |
-0.062981 |
| |
-0.063484 |
| |
-0.063548 |
| |
-0.063770 |
| |
-0.063891 |
|
|
|
|
|
 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.
|
