|
|
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 |
| |
0.050800 |
| |
0.050756 |
| |
0.050681 |
| |
0.050632 |
| |
0.050621 |
| |
0.050575 |
| |
0.050416 |
| |
0.050389 |
| |
0.050270 |
| |
0.050136 |
| |
0.050050 |
| |
0.049952 |
| |
0.049608 |
| |
0.049598 |
| |
0.049551 |
| |
0.049412 |
| |
0.049363 |
| |
0.049354 |
| |
0.049341 |
| |
0.049144 |
| |
0.049080 |
| |
0.049040 |
| |
0.049011 |
| |
0.048920 |
| |
0.048894 |
|
|
|
|
|
 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.
|
