|
|
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 |
| |
0.390253 |
| |
0.390146 |
| |
0.390129 |
| |
0.390019 |
| |
0.390005 |
| |
0.389871 |
| |
0.389820 |
| |
0.389816 |
| |
0.389797 |
| |
0.389639 |
| |
0.389630 |
| |
0.389606 |
| |
0.389604 |
| |
0.389568 |
| |
0.389565 |
| |
0.389563 |
| |
0.389562 |
| |
0.389556 |
| |
0.389476 |
| |
0.389453 |
| |
0.389395 |
| |
0.389372 |
| |
0.389347 |
| |
0.389328 |
| |
0.389086 |
|
|
|
|
|
 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.
|
