|
|
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 |
| |
0.437671 |
| |
0.437671 |
| |
0.437668 |
| |
0.437661 |
| |
0.437659 |
| |
0.437597 |
| |
0.437596 |
| |
0.437593 |
| |
0.437573 |
| |
0.437557 |
| |
0.437544 |
| |
0.437510 |
| |
0.437471 |
| |
0.437442 |
| |
0.437398 |
| |
0.437297 |
| |
0.437249 |
| |
0.437240 |
| |
0.437233 |
| |
0.437177 |
| |
0.437175 |
| |
0.437135 |
| |
0.437101 |
| |
0.436982 |
| |
0.436965 |
|
|
|
|
|
 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.
|
