|
|
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 |
| |
0.469290 |
| |
0.469189 |
| |
0.469185 |
| |
0.469058 |
| |
0.469035 |
| |
0.469001 |
| |
0.468968 |
| |
0.468955 |
| |
0.468903 |
| |
0.468892 |
| |
0.468881 |
| |
0.468873 |
| |
0.468828 |
| |
0.468699 |
| |
0.468686 |
| |
0.468686 |
| |
0.468631 |
| |
0.468586 |
| |
0.468549 |
| |
0.468427 |
| |
0.468420 |
| |
0.468286 |
| |
0.468222 |
| |
0.468168 |
| |
0.468117 |
|
|
|
|
|
 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.
|
