|
|
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 |
| |
0.407596 |
| |
0.407590 |
| |
0.407583 |
| |
0.407524 |
| |
0.407470 |
| |
0.407428 |
| |
0.407252 |
| |
0.407206 |
| |
0.407131 |
| |
0.407118 |
| |
0.407087 |
| |
0.407047 |
| |
0.407029 |
| |
0.406995 |
| |
0.406994 |
| |
0.406986 |
| |
0.406966 |
| |
0.406856 |
| |
0.406820 |
| |
0.406799 |
| |
0.406718 |
| |
0.406680 |
| |
0.406666 |
| |
0.406596 |
| |
0.406580 |
|
|
|
|
|
 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.
|
