|
|
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 |
| |
0.446711 |
| |
0.446449 |
| |
0.446447 |
| |
0.446432 |
| |
0.446255 |
| |
0.446100 |
| |
0.445965 |
| |
0.445939 |
| |
0.445917 |
| |
0.445860 |
| |
0.445837 |
| |
0.445743 |
| |
0.445639 |
| |
0.445615 |
| |
0.445547 |
| |
0.445464 |
| |
0.445186 |
| |
0.444982 |
| |
0.444711 |
| |
0.444614 |
| |
0.444566 |
| |
0.444513 |
| |
0.444403 |
| |
0.444399 |
| |
0.444299 |
|
|
|
|
|
 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.
|
