|
|
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 |
| |
0.331757 |
| |
0.331743 |
| |
0.331690 |
| |
0.331688 |
| |
0.331666 |
| |
0.331643 |
| |
0.331555 |
| |
0.331544 |
| |
0.331483 |
| |
0.331449 |
| |
0.331441 |
| |
0.331358 |
| |
0.331322 |
| |
0.331315 |
| |
0.331310 |
| |
0.331275 |
| |
0.331217 |
| |
0.331210 |
| |
0.331203 |
| |
0.331169 |
| |
0.331140 |
| |
0.331051 |
| |
0.331009 |
| |
0.330930 |
| |
0.330906 |
|
|
|
|
|
 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.
|
