|
|
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 |
| |
0.449543 |
| |
0.449407 |
| |
0.449176 |
| |
0.448952 |
| |
0.448930 |
| |
0.448789 |
| |
0.448747 |
| |
0.448689 |
| |
0.448615 |
| |
0.448521 |
| |
0.448417 |
| |
0.448376 |
| |
0.448230 |
| |
0.447717 |
| |
0.447709 |
| |
0.447619 |
| |
0.447488 |
| |
0.447349 |
| |
0.447331 |
| |
0.447051 |
| |
0.446887 |
| |
0.446869 |
| |
0.446764 |
| |
0.446427 |
| |
0.446385 |
|
|
|
|
|
 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.
|
