|
|
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 |
| |
0.472342 |
| |
0.472287 |
| |
0.472245 |
| |
0.472245 |
| |
0.472185 |
| |
0.472183 |
| |
0.472183 |
| |
0.472178 |
| |
0.472094 |
| |
0.472053 |
| |
0.471998 |
| |
0.471981 |
| |
0.471923 |
| |
0.471814 |
| |
0.471776 |
| |
0.471714 |
| |
0.471654 |
| |
0.471623 |
| |
0.471579 |
| |
0.471552 |
| |
0.471532 |
| |
0.471511 |
| |
0.471454 |
| |
0.471446 |
| |
0.471427 |
|
|
|
|
|
 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.
|
