|
|
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 |
| |
0.213432 |
| |
0.213365 |
| |
0.213278 |
| |
0.213251 |
| |
0.213166 |
| |
0.213001 |
| |
0.212962 |
| |
0.212795 |
| |
0.212697 |
| |
0.212687 |
| |
0.212575 |
| |
0.212556 |
| |
0.212521 |
| |
0.212457 |
| |
0.212271 |
| |
0.212214 |
| |
0.212046 |
| |
0.211934 |
| |
0.211883 |
| |
0.211850 |
| |
0.211779 |
| |
0.211739 |
| |
0.211715 |
| |
0.211604 |
| |
0.211493 |
|
|
|
|
|
 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.
|
