|
|
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 |
| |
0.402667 |
| |
0.402586 |
| |
0.402549 |
| |
0.402492 |
| |
0.402492 |
| |
0.402488 |
| |
0.402488 |
| |
0.402445 |
| |
0.402409 |
| |
0.402331 |
| |
0.402290 |
| |
0.402250 |
| |
0.402250 |
| |
0.402248 |
| |
0.402150 |
| |
0.402133 |
| |
0.402088 |
| |
0.401967 |
| |
0.401919 |
| |
0.401915 |
| |
0.401915 |
| |
0.401885 |
| |
0.401827 |
| |
0.401826 |
| |
0.401825 |
|
|
|
|
|
 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.
|
