|
|
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 |
| |
0.387197 |
| |
0.387196 |
| |
0.387136 |
| |
0.387131 |
| |
0.387069 |
| |
0.387048 |
| |
0.386990 |
| |
0.386957 |
| |
0.386909 |
| |
0.386878 |
| |
0.386849 |
| |
0.386845 |
| |
0.386844 |
| |
0.386806 |
| |
0.386786 |
| |
0.386754 |
| |
0.386752 |
| |
0.386728 |
| |
0.386711 |
| |
0.386674 |
| |
0.386657 |
| |
0.386653 |
| |
0.386631 |
| |
0.386622 |
| |
0.386618 |
|
|
|
|
|
 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.
|
