|
|
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 |
| |
0.117868 |
| |
0.117840 |
| |
0.117837 |
| |
0.117834 |
| |
0.117732 |
| |
0.117726 |
| |
0.117616 |
| |
0.117470 |
| |
0.117261 |
| |
0.117247 |
| |
0.117237 |
| |
0.117233 |
| |
0.117186 |
| |
0.117140 |
| |
0.117048 |
| |
0.117044 |
| |
0.116922 |
| |
0.116899 |
| |
0.116863 |
| |
0.116834 |
| |
0.116790 |
| |
0.116790 |
| |
0.116701 |
| |
0.116587 |
| |
0.116482 |
|
|
|
|
|
 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.
|
