|
|
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 |
| |
0.454603 |
| |
0.454582 |
| |
0.454582 |
| |
0.454239 |
| |
0.454222 |
| |
0.454037 |
| |
0.453921 |
| |
0.453712 |
| |
0.453711 |
| |
0.453577 |
| |
0.453563 |
| |
0.453527 |
| |
0.453526 |
| |
0.453514 |
| |
0.453457 |
| |
0.453423 |
| |
0.453219 |
| |
0.453087 |
| |
0.453048 |
| |
0.452947 |
| |
0.452859 |
| |
0.452619 |
| |
0.452530 |
| |
0.452480 |
| |
0.452463 |
|
|
|
|
|
 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.
|
