|
|
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 |
| |
0.217922 |
| |
0.217896 |
| |
0.217792 |
| |
0.217789 |
| |
0.217716 |
| |
0.217674 |
| |
0.217644 |
| |
0.217632 |
| |
0.217591 |
| |
0.217559 |
| |
0.217508 |
| |
0.217476 |
| |
0.217451 |
| |
0.217368 |
| |
0.217359 |
| |
0.217335 |
| |
0.217289 |
| |
0.217286 |
| |
0.217227 |
| |
0.217131 |
| |
0.217082 |
| |
0.217068 |
| |
0.217066 |
| |
0.217007 |
| |
0.217001 |
|
|
|
|
|
 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.
|
