|
|
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 |
| |
0.414672 |
| |
0.414631 |
| |
0.414620 |
| |
0.414582 |
| |
0.414550 |
| |
0.414484 |
| |
0.414479 |
| |
0.414448 |
| |
0.414442 |
| |
0.414359 |
| |
0.414270 |
| |
0.414217 |
| |
0.414181 |
| |
0.414114 |
| |
0.414113 |
| |
0.413999 |
| |
0.413966 |
| |
0.413955 |
| |
0.413870 |
| |
0.413869 |
| |
0.413825 |
| |
0.413800 |
| |
0.413749 |
| |
0.413739 |
| |
0.413597 |
|
|
|
|
|
 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.
|
