|
|
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 |
| |
0.279369 |
| |
0.279296 |
| |
0.279291 |
| |
0.279121 |
| |
0.279029 |
| |
0.278788 |
| |
0.278776 |
| |
0.278631 |
| |
0.278584 |
| |
0.278551 |
| |
0.278518 |
| |
0.278497 |
| |
0.278412 |
| |
0.278091 |
| |
0.278055 |
| |
0.277735 |
| |
0.277712 |
| |
0.277696 |
| |
0.277675 |
| |
0.277650 |
| |
0.277364 |
| |
0.277221 |
| |
0.277024 |
| |
0.276720 |
| |
0.276562 |
|
|
|
|
|
 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.
|
