|
|
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 |
| |
0.250897 |
| |
0.250856 |
| |
0.250830 |
| |
0.250806 |
| |
0.250734 |
| |
0.250707 |
| |
0.250707 |
| |
0.250672 |
| |
0.250651 |
| |
0.250651 |
| |
0.250578 |
| |
0.250551 |
| |
0.250512 |
| |
0.250402 |
| |
0.250335 |
| |
0.250284 |
| |
0.250256 |
| |
0.250223 |
| |
0.250205 |
| |
0.250168 |
| |
0.250168 |
| |
0.250168 |
| |
0.250146 |
| |
0.250062 |
| |
0.250027 |
|
|
|
|
|
 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.
|
