|
|
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 |
| |
0.341350 |
| |
0.341342 |
| |
0.341341 |
| |
0.341292 |
| |
0.341224 |
| |
0.341218 |
| |
0.341144 |
| |
0.341027 |
| |
0.340985 |
| |
0.340985 |
| |
0.340950 |
| |
0.340922 |
| |
0.340881 |
| |
0.340811 |
| |
0.340765 |
| |
0.340664 |
| |
0.340614 |
| |
0.340604 |
| |
0.340514 |
| |
0.340419 |
| |
0.340417 |
| |
0.340400 |
| |
0.340396 |
| |
0.340386 |
| |
0.340384 |
|
|
|
|
|
 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.
|
