|
|
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 |
| |
0.408065 |
| |
0.408043 |
| |
0.408003 |
| |
0.407968 |
| |
0.407898 |
| |
0.407679 |
| |
0.407669 |
| |
0.407526 |
| |
0.407468 |
| |
0.407468 |
| |
0.407386 |
| |
0.407386 |
| |
0.407357 |
| |
0.407186 |
| |
0.407163 |
| |
0.407135 |
| |
0.406895 |
| |
0.406870 |
| |
0.406850 |
| |
0.406664 |
| |
0.406525 |
| |
0.406329 |
| |
0.406244 |
| |
0.406198 |
| |
0.406075 |
|
|
|
|
|
 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.
|
