|
|
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 |
| |
0.017116 |
| |
0.017097 |
| |
0.017048 |
| |
0.016950 |
| |
0.016926 |
| |
0.016910 |
| |
0.016865 |
| |
0.016555 |
| |
0.016526 |
| |
0.016504 |
| |
0.016494 |
| |
0.016442 |
| |
0.016278 |
| |
0.016199 |
| |
0.016186 |
| |
0.016093 |
| |
0.016084 |
| |
0.016045 |
| |
0.015997 |
| |
0.015954 |
| |
0.015934 |
| |
0.015870 |
| |
0.015856 |
| |
0.015811 |
| |
0.015805 |
|
|
|
|
|
 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.
|
