|
|
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 |
| |
0.253136 |
| |
0.252972 |
| |
0.252940 |
| |
0.252935 |
| |
0.252917 |
| |
0.252917 |
| |
0.252892 |
| |
0.252837 |
| |
0.252818 |
| |
0.252814 |
| |
0.252758 |
| |
0.252746 |
| |
0.252730 |
| |
0.252620 |
| |
0.252561 |
| |
0.252558 |
| |
0.252520 |
| |
0.252438 |
| |
0.252438 |
| |
0.251975 |
| |
0.251956 |
| |
0.251913 |
| |
0.251773 |
| |
0.251725 |
| |
0.251669 |
|
|
|
|
|
 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.
|
