|
|
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 |
| |
0.355166 |
| |
0.355163 |
| |
0.355082 |
| |
0.355029 |
| |
0.355016 |
| |
0.355016 |
| |
0.354869 |
| |
0.354831 |
| |
0.354821 |
| |
0.354776 |
| |
0.354767 |
| |
0.354712 |
| |
0.354692 |
| |
0.354676 |
| |
0.354674 |
| |
0.354620 |
| |
0.354609 |
| |
0.354593 |
| |
0.354556 |
| |
0.354508 |
| |
0.354487 |
| |
0.354444 |
| |
0.354399 |
| |
0.354389 |
| |
0.354362 |
|
|
|
|
|
 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.
|
