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