|
|
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 |
| |
0.431141 |
| |
0.431013 |
| |
0.430867 |
| |
0.430819 |
| |
0.430810 |
| |
0.430801 |
| |
0.430778 |
| |
0.430654 |
| |
0.430545 |
| |
0.430525 |
| |
0.430506 |
| |
0.430476 |
| |
0.430470 |
| |
0.430446 |
| |
0.430402 |
| |
0.430400 |
| |
0.430323 |
| |
0.430316 |
| |
0.430272 |
| |
0.430267 |
| |
0.430256 |
| |
0.430218 |
| |
0.430212 |
| |
0.430158 |
| |
0.430115 |
|
|
|
|
|
 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.
|
