|
|
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 |
| |
0.033962 |
| |
0.033674 |
| |
0.033659 |
| |
0.033656 |
| |
0.033640 |
| |
0.033553 |
| |
0.033143 |
| |
0.033104 |
| |
0.033043 |
| |
0.032981 |
| |
0.032979 |
| |
0.032973 |
| |
0.032899 |
| |
0.032815 |
| |
0.032806 |
| |
0.032733 |
| |
0.032578 |
| |
0.032544 |
| |
0.032508 |
| |
0.032436 |
| |
0.032404 |
| |
0.032389 |
| |
0.032387 |
| |
0.032367 |
| |
0.032343 |
|
|
|
|
|
 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.
|
