|
|
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 |
| |
0.503839 |
| |
0.503824 |
| |
0.503799 |
| |
0.503742 |
| |
0.503549 |
| |
0.503469 |
| |
0.503340 |
| |
0.503233 |
| |
0.503109 |
| |
0.502946 |
| |
0.502842 |
| |
0.502394 |
| |
0.502328 |
| |
0.502170 |
| |
0.502157 |
| |
0.502066 |
| |
0.501976 |
| |
0.501877 |
| |
0.501635 |
| |
0.501577 |
| |
0.501394 |
| |
0.501280 |
| |
0.500988 |
| |
0.500771 |
| |
0.500653 |
|
|
|
|
|
 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.
|
