|
|
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 |
| |
0.375048 |
| |
0.375006 |
| |
0.374688 |
| |
0.374248 |
| |
0.373983 |
| |
0.373974 |
| |
0.373803 |
| |
0.373731 |
| |
0.373614 |
| |
0.373405 |
| |
0.373239 |
| |
0.373077 |
| |
0.372952 |
| |
0.372815 |
| |
0.372796 |
| |
0.372605 |
| |
0.372516 |
| |
0.372515 |
| |
0.372272 |
| |
0.372251 |
| |
0.371987 |
| |
0.371863 |
| |
0.371740 |
| |
0.371304 |
| |
0.371291 |
|
|
|
|
|
 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.
|
