|
|
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 |
| |
0.422249 |
| |
0.422197 |
| |
0.422197 |
| |
0.422075 |
| |
0.422031 |
| |
0.421964 |
| |
0.421894 |
| |
0.421894 |
| |
0.421860 |
| |
0.421859 |
| |
0.421761 |
| |
0.421717 |
| |
0.421712 |
| |
0.421704 |
| |
0.421618 |
| |
0.421594 |
| |
0.421591 |
| |
0.421543 |
| |
0.421524 |
| |
0.421514 |
| |
0.421512 |
| |
0.421481 |
| |
0.421440 |
| |
0.421440 |
| |
0.421414 |
|
|
|
|
|
 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.
|
