|
|
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 |
| |
0.373151 |
| |
0.373079 |
| |
0.373055 |
| |
0.373015 |
| |
0.372998 |
| |
0.372958 |
| |
0.372942 |
| |
0.372853 |
| |
0.372847 |
| |
0.372809 |
| |
0.372761 |
| |
0.372693 |
| |
0.372690 |
| |
0.372683 |
| |
0.372674 |
| |
0.372631 |
| |
0.372562 |
| |
0.372562 |
| |
0.372557 |
| |
0.372549 |
| |
0.372499 |
| |
0.372499 |
| |
0.372495 |
| |
0.372484 |
| |
0.372392 |
|
|
|
|
|
 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.
|
