|
|
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 |
| |
0.494513 |
| |
0.494503 |
| |
0.494129 |
| |
0.494066 |
| |
0.494002 |
| |
0.493854 |
| |
0.493599 |
| |
0.493478 |
| |
0.493426 |
| |
0.493404 |
| |
0.493188 |
| |
0.492978 |
| |
0.492952 |
| |
0.492945 |
| |
0.492689 |
| |
0.492666 |
| |
0.492356 |
| |
0.492079 |
| |
0.492019 |
| |
0.491901 |
| |
0.491896 |
| |
0.491869 |
| |
0.491859 |
| |
0.491760 |
| |
0.491738 |
|
|
|
|
|
 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.
|
