|
|
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 |
| |
0.233585 |
| |
0.233348 |
| |
0.233120 |
| |
0.232975 |
| |
0.232962 |
| |
0.232961 |
| |
0.232815 |
| |
0.232723 |
| |
0.232722 |
| |
0.232544 |
| |
0.232375 |
| |
0.232102 |
| |
0.231982 |
| |
0.231948 |
| |
0.231470 |
| |
0.231278 |
| |
0.231036 |
| |
0.230834 |
| |
0.230734 |
| |
0.230372 |
| |
0.230293 |
| |
0.230192 |
| |
0.230001 |
| |
0.229804 |
| |
0.229795 |
|
|
|
|
|
 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.
|
