|
|
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 |
| |
0.444202 |
| |
0.443852 |
| |
0.443797 |
| |
0.443615 |
| |
0.443577 |
| |
0.443453 |
| |
0.443378 |
| |
0.443370 |
| |
0.443294 |
| |
0.443259 |
| |
0.443178 |
| |
0.443106 |
| |
0.442865 |
| |
0.442811 |
| |
0.442808 |
| |
0.442794 |
| |
0.442673 |
| |
0.442666 |
| |
0.442498 |
| |
0.442477 |
| |
0.442443 |
| |
0.442339 |
| |
0.442313 |
| |
0.442293 |
| |
0.442225 |
|
|
|
|
|
 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.
|
