|
|
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 |
| |
0.368119 |
| |
0.368094 |
| |
0.368053 |
| |
0.368047 |
| |
0.367973 |
| |
0.367929 |
| |
0.367899 |
| |
0.367895 |
| |
0.367840 |
| |
0.367817 |
| |
0.367816 |
| |
0.367808 |
| |
0.367807 |
| |
0.367711 |
| |
0.367666 |
| |
0.367656 |
| |
0.367652 |
| |
0.367552 |
| |
0.367506 |
| |
0.367486 |
| |
0.367473 |
| |
0.367467 |
| |
0.367452 |
| |
0.367413 |
| |
0.367411 |
|
|
|
|
|
 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.
|
