|
|
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 |
| |
0.412646 |
| |
0.412622 |
| |
0.412611 |
| |
0.412577 |
| |
0.412436 |
| |
0.412418 |
| |
0.412351 |
| |
0.412348 |
| |
0.412249 |
| |
0.412193 |
| |
0.412159 |
| |
0.411892 |
| |
0.411882 |
| |
0.411822 |
| |
0.411813 |
| |
0.411743 |
| |
0.411721 |
| |
0.411678 |
| |
0.411618 |
| |
0.411501 |
| |
0.411488 |
| |
0.411349 |
| |
0.411349 |
| |
0.411348 |
| |
0.411346 |
|
|
|
|
|
 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.
|
