|
|
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 |
| |
0.438658 |
| |
0.438652 |
| |
0.438579 |
| |
0.438576 |
| |
0.438572 |
| |
0.438531 |
| |
0.438530 |
| |
0.438336 |
| |
0.438256 |
| |
0.438253 |
| |
0.438236 |
| |
0.438226 |
| |
0.438191 |
| |
0.438149 |
| |
0.438148 |
| |
0.438128 |
| |
0.438122 |
| |
0.438090 |
| |
0.438078 |
| |
0.438069 |
| |
0.438047 |
| |
0.438026 |
| |
0.437998 |
| |
0.437956 |
| |
0.437936 |
|
|
|
|
|
 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.
|
