|
|
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 |
| |
0.326112 |
| |
0.326041 |
| |
0.326005 |
| |
0.325585 |
| |
0.325535 |
| |
0.324878 |
| |
0.324663 |
| |
0.324662 |
| |
0.324603 |
| |
0.324510 |
| |
0.324460 |
| |
0.324430 |
| |
0.324182 |
| |
0.324115 |
| |
0.324069 |
| |
0.324004 |
| |
0.323936 |
| |
0.323809 |
| |
0.323782 |
| |
0.323733 |
| |
0.323655 |
| |
0.323642 |
| |
0.323506 |
| |
0.323501 |
| |
0.323458 |
|
|
|
|
|
 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.
|
