|
|
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 |
| |
0.369636 |
| |
0.369542 |
| |
0.369470 |
| |
0.369462 |
| |
0.369408 |
| |
0.369364 |
| |
0.369276 |
| |
0.369275 |
| |
0.369265 |
| |
0.369264 |
| |
0.369228 |
| |
0.369171 |
| |
0.369162 |
| |
0.369145 |
| |
0.369116 |
| |
0.369067 |
| |
0.369008 |
| |
0.368978 |
| |
0.368936 |
| |
0.368930 |
| |
0.368921 |
| |
0.368886 |
| |
0.368885 |
| |
0.368819 |
| |
0.368819 |
|
|
|
|
|
 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.
|
