|
|
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 |
| |
0.376326 |
| |
0.376289 |
| |
0.376152 |
| |
0.376116 |
| |
0.376084 |
| |
0.375852 |
| |
0.375850 |
| |
0.375669 |
| |
0.375636 |
| |
0.375577 |
| |
0.375555 |
| |
0.375509 |
| |
0.375456 |
| |
0.375363 |
| |
0.375350 |
| |
0.375262 |
| |
0.375262 |
| |
0.375185 |
| |
0.375176 |
| |
0.375167 |
| |
0.375151 |
| |
0.375103 |
| |
0.375060 |
| |
0.375014 |
| |
0.375004 |
|
|
|
|
|
 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.
|
