|
|
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 |
| |
0.353296 |
| |
0.353268 |
| |
0.353115 |
| |
0.353078 |
| |
0.353044 |
| |
0.352960 |
| |
0.352951 |
| |
0.352932 |
| |
0.352770 |
| |
0.352743 |
| |
0.352734 |
| |
0.352723 |
| |
0.352705 |
| |
0.352574 |
| |
0.352571 |
| |
0.352513 |
| |
0.352451 |
| |
0.352447 |
| |
0.352447 |
| |
0.352424 |
| |
0.352412 |
| |
0.352321 |
| |
0.352258 |
| |
0.352236 |
| |
0.352169 |
|
|
|
|
|
 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.
|
