|
|
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 |
| |
0.515326 |
| |
0.515257 |
| |
0.515225 |
| |
0.515216 |
| |
0.515062 |
| |
0.514970 |
| |
0.514922 |
| |
0.514773 |
| |
0.514621 |
| |
0.514500 |
| |
0.514440 |
| |
0.514334 |
| |
0.514302 |
| |
0.514005 |
| |
0.513987 |
| |
0.513829 |
| |
0.513745 |
| |
0.513521 |
| |
0.513450 |
| |
0.513268 |
| |
0.513107 |
| |
0.512987 |
| |
0.512957 |
| |
0.512773 |
| |
0.512771 |
|
|
|
|
|
 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.
|
