|
|
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 |
| |
0.454737 |
| |
0.454728 |
| |
0.454639 |
| |
0.454532 |
| |
0.454317 |
| |
0.454209 |
| |
0.454063 |
| |
0.453932 |
| |
0.453806 |
| |
0.453739 |
| |
0.453320 |
| |
0.453124 |
| |
0.453122 |
| |
0.453027 |
| |
0.452905 |
| |
0.452871 |
| |
0.452622 |
| |
0.452604 |
| |
0.452465 |
| |
0.452442 |
| |
0.452133 |
| |
0.451855 |
| |
0.451642 |
| |
0.451631 |
| |
0.451577 |
|
|
|
|
|
 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.
|
