|
|
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 |
| |
0.425222 |
| |
0.425171 |
| |
0.425156 |
| |
0.425153 |
| |
0.425090 |
| |
0.425027 |
| |
0.424991 |
| |
0.424945 |
| |
0.424940 |
| |
0.424901 |
| |
0.424889 |
| |
0.424889 |
| |
0.424861 |
| |
0.424846 |
| |
0.424846 |
| |
0.424823 |
| |
0.424729 |
| |
0.424630 |
| |
0.424601 |
| |
0.424597 |
| |
0.424536 |
| |
0.424513 |
| |
0.424325 |
| |
0.424322 |
| |
0.424283 |
|
|
|
|
|
 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.
|
