|
|
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 |
| |
0.204966 |
| |
0.204731 |
| |
0.204196 |
| |
0.204146 |
| |
0.204045 |
| |
0.203935 |
| |
0.203840 |
| |
0.203834 |
| |
0.203747 |
| |
0.203708 |
| |
0.203703 |
| |
0.203574 |
| |
0.203106 |
| |
0.203066 |
| |
0.202920 |
| |
0.202787 |
| |
0.202749 |
| |
0.202489 |
| |
0.202319 |
| |
0.202294 |
| |
0.202261 |
| |
0.202248 |
| |
0.202121 |
| |
0.202004 |
| |
0.202003 |
|
|
|
|
|
 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.
|
