|
|
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 |
| |
0.175860 |
| |
0.175694 |
| |
0.175644 |
| |
0.175641 |
| |
0.175551 |
| |
0.175512 |
| |
0.175496 |
| |
0.175481 |
| |
0.175079 |
| |
0.175077 |
| |
0.175002 |
| |
0.174978 |
| |
0.174794 |
| |
0.174770 |
| |
0.174769 |
| |
0.174767 |
| |
0.174736 |
| |
0.174649 |
| |
0.174646 |
| |
0.174612 |
| |
0.174576 |
| |
0.174547 |
| |
0.174513 |
| |
0.174491 |
| |
0.174439 |
|
|
|
|
|
 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.
|
