|
|
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 |
| |
0.069486 |
| |
0.069438 |
| |
0.069382 |
| |
0.069312 |
| |
0.069302 |
| |
0.069192 |
| |
0.069169 |
| |
0.069154 |
| |
0.069046 |
| |
0.068988 |
| |
0.068884 |
| |
0.068877 |
| |
0.068831 |
| |
0.068734 |
| |
0.068713 |
| |
0.068689 |
| |
0.068604 |
| |
0.068599 |
| |
0.068469 |
| |
0.068353 |
| |
0.068346 |
| |
0.068288 |
| |
0.068242 |
| |
0.068209 |
| |
0.068169 |
|
|
|
|
|
 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.
|
