|
|
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 |
| |
0.335936 |
| |
0.335918 |
| |
0.335866 |
| |
0.335865 |
| |
0.335844 |
| |
0.335821 |
| |
0.335807 |
| |
0.335800 |
| |
0.335719 |
| |
0.335711 |
| |
0.335664 |
| |
0.335656 |
| |
0.335644 |
| |
0.335638 |
| |
0.335585 |
| |
0.335572 |
| |
0.335522 |
| |
0.335519 |
| |
0.335475 |
| |
0.335336 |
| |
0.335320 |
| |
0.335308 |
| |
0.335307 |
| |
0.335228 |
| |
0.335193 |
|
|
|
|
|
 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.
|
