|
|
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 |
| |
0.293508 |
| |
0.293501 |
| |
0.293444 |
| |
0.293432 |
| |
0.293346 |
| |
0.293337 |
| |
0.293318 |
| |
0.293301 |
| |
0.293298 |
| |
0.293269 |
| |
0.293269 |
| |
0.293264 |
| |
0.293231 |
| |
0.293076 |
| |
0.293048 |
| |
0.293012 |
| |
0.292956 |
| |
0.292886 |
| |
0.292771 |
| |
0.292737 |
| |
0.292688 |
| |
0.292649 |
| |
0.292637 |
| |
0.292615 |
| |
0.292591 |
|
|
|
|
|
 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.
|
