|
|
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 |
| |
0.280653 |
| |
0.280605 |
| |
0.280468 |
| |
0.280439 |
| |
0.280405 |
| |
0.280394 |
| |
0.280300 |
| |
0.280225 |
| |
0.280186 |
| |
0.280164 |
| |
0.280122 |
| |
0.280108 |
| |
0.280031 |
| |
0.279978 |
| |
0.279970 |
| |
0.279880 |
| |
0.279833 |
| |
0.279830 |
| |
0.279764 |
| |
0.279739 |
| |
0.279663 |
| |
0.279638 |
| |
0.279601 |
| |
0.279552 |
| |
0.279467 |
|
|
|
|
|
 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.
|
