|
|
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 |
| |
0.395051 |
| |
0.395002 |
| |
0.394938 |
| |
0.394909 |
| |
0.394902 |
| |
0.394827 |
| |
0.394820 |
| |
0.394746 |
| |
0.394700 |
| |
0.394700 |
| |
0.394652 |
| |
0.394605 |
| |
0.394594 |
| |
0.394566 |
| |
0.394534 |
| |
0.394504 |
| |
0.394479 |
| |
0.394443 |
| |
0.394434 |
| |
0.394380 |
| |
0.394360 |
| |
0.394207 |
| |
0.394177 |
| |
0.394158 |
| |
0.394147 |
|
|
|
|
|
 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.
|
