|
|
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 |
| |
0.240334 |
| |
0.240274 |
| |
0.240264 |
| |
0.239924 |
| |
0.239707 |
| |
0.239597 |
| |
0.239576 |
| |
0.239524 |
| |
0.239276 |
| |
0.239127 |
| |
0.238964 |
| |
0.238958 |
| |
0.238742 |
| |
0.238648 |
| |
0.238519 |
| |
0.238294 |
| |
0.238282 |
| |
0.238233 |
| |
0.238199 |
| |
0.237985 |
| |
0.237774 |
| |
0.237675 |
| |
0.237629 |
| |
0.237272 |
| |
0.237159 |
|
|
|
|
|
 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.
|
