|
|
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 |
| |
0.217252 |
| |
0.217125 |
| |
0.217083 |
| |
0.217051 |
| |
0.216992 |
| |
0.216946 |
| |
0.216845 |
| |
0.216613 |
| |
0.216549 |
| |
0.216533 |
| |
0.216282 |
| |
0.216194 |
| |
0.216175 |
| |
0.216021 |
| |
0.215793 |
| |
0.215692 |
| |
0.215612 |
| |
0.215545 |
| |
0.215495 |
| |
0.215334 |
| |
0.215287 |
| |
0.215247 |
| |
0.215146 |
| |
0.215107 |
| |
0.215075 |
|
|
|
|
|
 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.
|
