|
|
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 |
| |
0.396144 |
| |
0.396123 |
| |
0.396013 |
| |
0.395976 |
| |
0.395956 |
| |
0.395911 |
| |
0.395908 |
| |
0.395860 |
| |
0.395860 |
| |
0.395838 |
| |
0.395776 |
| |
0.395748 |
| |
0.395722 |
| |
0.395685 |
| |
0.395610 |
| |
0.395592 |
| |
0.395588 |
| |
0.395582 |
| |
0.395533 |
| |
0.395532 |
| |
0.395460 |
| |
0.395456 |
| |
0.395401 |
| |
0.395373 |
| |
0.395333 |
|
|
|
|
|
 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.
|
