|
|
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 |
| |
0.211258 |
| |
0.211246 |
| |
0.211148 |
| |
0.211050 |
| |
0.210921 |
| |
0.210903 |
| |
0.210668 |
| |
0.210558 |
| |
0.210552 |
| |
0.210342 |
| |
0.210042 |
| |
0.210022 |
| |
0.210007 |
| |
0.209840 |
| |
0.209634 |
| |
0.209592 |
| |
0.209571 |
| |
0.209535 |
| |
0.209497 |
| |
0.209442 |
| |
0.208978 |
| |
0.208708 |
| |
0.208672 |
| |
0.208152 |
| |
0.208112 |
|
|
|
|
|
 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.
|
