|
|
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 |
| |
0.455706 |
| |
0.455661 |
| |
0.455659 |
| |
0.455653 |
| |
0.455607 |
| |
0.455534 |
| |
0.455529 |
| |
0.455514 |
| |
0.455472 |
| |
0.455402 |
| |
0.455299 |
| |
0.455233 |
| |
0.455162 |
| |
0.455139 |
| |
0.455014 |
| |
0.454872 |
| |
0.454834 |
| |
0.454808 |
| |
0.454796 |
| |
0.454710 |
| |
0.454671 |
| |
0.454599 |
| |
0.454547 |
| |
0.454529 |
| |
0.454503 |
|
|
|
|
|
 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.
|
