|
|
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 |
| |
0.221273 |
| |
0.221178 |
| |
0.221045 |
| |
0.220999 |
| |
0.220996 |
| |
0.220774 |
| |
0.220748 |
| |
0.220616 |
| |
0.220572 |
| |
0.220527 |
| |
0.220375 |
| |
0.220284 |
| |
0.220275 |
| |
0.220258 |
| |
0.220234 |
| |
0.220120 |
| |
0.220002 |
| |
0.219951 |
| |
0.219855 |
| |
0.219758 |
| |
0.219679 |
| |
0.219515 |
| |
0.219502 |
| |
0.219487 |
| |
0.219480 |
|
|
|
|
|
 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.
|
