|
|
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 |
| |
0.368801 |
| |
0.368793 |
| |
0.368776 |
| |
0.368705 |
| |
0.368680 |
| |
0.368666 |
| |
0.368658 |
| |
0.368647 |
| |
0.368633 |
| |
0.368618 |
| |
0.368550 |
| |
0.368549 |
| |
0.368510 |
| |
0.368374 |
| |
0.368302 |
| |
0.368300 |
| |
0.368298 |
| |
0.368269 |
| |
0.368258 |
| |
0.368252 |
| |
0.368212 |
| |
0.368187 |
| |
0.368180 |
| |
0.368175 |
| |
0.368175 |
|
|
|
|
|
 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.
|
