|
|
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 |
| |
0.350874 |
| |
0.350861 |
| |
0.350846 |
| |
0.350814 |
| |
0.350806 |
| |
0.350780 |
| |
0.350777 |
| |
0.350762 |
| |
0.350744 |
| |
0.350725 |
| |
0.350660 |
| |
0.350604 |
| |
0.350543 |
| |
0.350471 |
| |
0.350433 |
| |
0.350409 |
| |
0.350367 |
| |
0.350358 |
| |
0.350298 |
| |
0.350217 |
| |
0.350170 |
| |
0.350139 |
| |
0.350056 |
| |
0.349896 |
| |
0.349818 |
|
|
|
|
|
 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.
|
